Joint Venture24 Mar 2026, 09:41 pm
Josts Engineering Company Ltd. Announces Divestment of Joint Venture and Appointment of New CFO
AI Summary
Josts Engineering Company Ltd. announced the outcome of its Board Meeting held on 24th March, 2026. The company approved the divestment of 50% of its equity investment in its Joint Venture, Suryavayu Renewable and Energy Solutions Private Limited, to Kay Cee Energy & Infra Limited at a fair market value of INR 4.124 per share. The company also approved the incorporation of a Wholly Owned subsidiary in India and accepted the resignation of Mr. Pranesh Bhandari as the Chief Financial Officer. Mr. K C Somani has been appointed as the new Chief Financial Officer and Key Managerial Personnel of the company.
Key Highlights
- Divestment of 50% equity in Joint Venture, Suryavayu Renewable and Energy Solutions Private Limited, to Kay Cee Energy & Infra Limited at a fair market value of INR 4.124 per share.
- Incorporation of a Wholly Owned subsidiary in India.
- Resignation of Mr. Pranesh Bhandari as the Chief Financial Officer.
- Appointment of Mr. K C Somani as the new Chief Financial Officer and Key Managerial Personnel.