Business Update27 Jul 2026, 06:00 pm
Jayant Infratech Withdraws Preferential Issue and Terminates BTA
AI Summary
Jayant Infratech Ltd's Board of Directors has approved the withdrawal of a proposed preferential issue of up to 12,55,000 equity shares. This issue was intended for the acquisition of the business/undertaking of M/s. Jayant Infraprojects through a consideration other than cash. Consequently, the Business Transfer Agreement dated April 27, 2026, with M/s. Jayant Infraprojects for the acquisition of its business via slump sale has also been terminated. The company stated that this withdrawal will not adversely impact its financial position, operations, or growth prospects, and intends to restructure the preferential issue.
Key Highlights
- Board approves withdrawal of preferential issue of 12,55,000 equity shares.
- Business Transfer Agreement with Jayant Infraprojects terminated.
- Acquisition of Jayant Infraprojects' business is no longer proceeding.
- Withdrawal aims to facilitate restructuring of the preferential issue.
- Company assures no adverse impact on financial position or operations.
Price Impact
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