Joint Venture24 Mar 2026, 09:41 pm
Josts Engineering Company Ltd. Announces Divestment in Joint Venture and Incorporation of Wholly Owned Subsidiary
AI Summary
Josts Engineering Company Ltd. announced the outcomes of its Board Meeting held on 24th March, 2026. The company approved the divestment of 50% of its equity investment in the Joint Venture, Suryavayu Renewable and Energy Solutions Private Limited, to Kay Cee Energy & Infra Limited at INR 4.124 per share. Post the transaction, SRESPL will cease to be a Joint Venture. The company also approved the incorporation of a Wholly Owned Subsidiary in India to leverage future growth opportunities. The resignation of Mr. Pranesh Bhandari as Chief Financial Officer and Key Managerial Personnel was noted, with Mr. K C Somani appointed as his successor.
Key Highlights
- Josts Engineering Company Ltd. has approved the divestment of 50% of its equity investment in the Joint Venture, Suryavayu Renewable and Energy Solutions Private Limited, to Kay Cee Energy & Infra Limited at INR 4.124 per share.
- Post the transaction, Suryavayu Renewable and Energy Solutions Private Limited will cease to be a Joint Venture.
- The company has also approved the incorporation of a Wholly Owned Subsidiary in India to leverage future growth opportunities.
- Mr. Pranesh Bhandari has resigned as Chief Financial Officer and Key Managerial Personnel, with Mr. K C Somani appointed as his successor.