Jaykay Enterprises Acquires ₹25 Cr Preference Shares in JK Defence

Jaykay Enterprises Limited (JKE) has acquired an additional 25,00,000 Preference Shares, valued at ₹25 Crore, in its wholly-owned subsidiary, JK Defence & Aerospace Limited. This acquisition was made pursuant to a Rights Issue and the funds will be utilized by JK Defence as per its Letter of Offer. JK Defence, incorporated in July 2023, is in the Defence and Aerospace sector and has not yet commenced operations. The acquisition does not alter JKE's 100% shareholding in its subsidiary. This move is intended to utilize proceeds from JKE's Rights Issue.