Acquisitions5 Feb 2026, 07:02 pm
Josts Engineering Approves Sale of Subsidiary JECL Engineering for Rs. 73 Crores
AI Summary
The Board of Directors of Josts Engineering Company Ltd approved the sale of its wholly owned subsidiary, JECL Engineering Limited, to Mr. Rahul Dhoot for an aggregate consideration of Rs. 73,00,00,000. The sale is subject to approval of the shareholders of the Company through postal ballot including e-voting. The transaction is expected to be completed by 30th April, 2026.
Key Highlights
- Josts Engineering to sell its wholly owned subsidiary, JECL Engineering Limited, to Mr. Rahul Dhoot for Rs. 73 Crores.
- The sale is subject to approval of the shareholders of the Company through postal ballot including e-voting.
- The expected completion date of the sale is on or before 30th April, 2026.
- JECL Engineering contributed 2.60% to the consolidated income and 27.04% to the consolidated net worth of Josts Engineering as on 31st March 2025.
- The transaction is not a related party transaction and is not part of a Scheme of Arrangement.