Deals19 Nov 2025, 07:20 pm
JK Tyre Subsidiary to Sell Equity Shares in Cavendish Industries for Rs. 130.64 Crore
AI Summary
JK Tornel, a subsidiary of JK Tyre & Industries Ltd., has agreed to sell 40,00,000 Equity Shares of Cavendish Industries Ltd. to Bengal & Assam Company Ltd. and J.K. Fenner (India) Ltd. for a total consideration of Rs. 130.64 Crore. The transaction is expected to be completed at arm's length and does not fall under related party transactions. The sale is not part of a scheme of arrangement. Cavendish Industries Ltd. remains a subsidiary of the Company post the sale.
Key Highlights
- JK Tornel to sell 40,00,000 Equity Shares of Cavendish Industries Ltd. to Bengal & Assam Company Ltd. and J.K. Fenner (India) Ltd.
- Total consideration for the sale is Rs. 130.64 Crore.
- The transaction is expected to be completed at arm's length.
- The sale is not a part of a related party transaction.
- Cavendish Industries Ltd. remains a subsidiary of JK Tyre & Industries Ltd. post the sale.