Acquisitions2 Sept 2026, 05:40 pm
AJC Jewel Acquires 80% Stake in UAE Subsidiary for ₹9.6 Cr
AI Summary
AJC Jewel Manufacturers Ltd announced its Board has approved the acquisition of an 80% stake in its UAE-based promoter group entity, AJC Jewel Manufacturers FZC, for a maximum consideration of INR 9,59,96,946.72. The acquisition will be executed through a preferential issue of up to 5,67,492 equity shares at an issue price of INR 169.16 per share, on a non-cash share swap basis. This move aims to consolidate the company's shareholding and will result in AJC UAE becoming a subsidiary. The Board also approved the draft notice for the 8th Annual General Meeting, scheduled for September 29, 2026.
Key Highlights
- Board approves acquisition of 80% stake in AJC Jewel Manufacturers FZC, UAE.
- Acquisition value capped at INR 9.6 Crores via share swap.
- AJC UAE to become a subsidiary post-transaction.
- Draft notice for 8th AGM approved, to be held Sept 29, 2026.
- Preferential issue of 5,67,492 equity shares approved.
Price Impact
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