Joint Venture24 Mar 2026, 09:50 pm
Josts Engineering Company Ltd to Sell Joint Venture Stake, Incorporates Wholly Owned Subsidiary, and Appoints New CFO
AI Summary
Josts Engineering Company Ltd announced the outcome of its Board Meeting held on 24th March, 2026, which included the approval of the divestment of 50% 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. Additionally, the company approved the incorporation of a Wholly Owned Subsidiary in India and acknowledged the resignation of Mr. Pranesh Bhandari as the Chief Financial Officer and Key Managerial Personnel, while welcoming Mr. K C Somani as the new CFO.
Key Highlights
- Josts Engineering Company Ltd to sell 50% equity stake 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 has approved the incorporation of a Wholly Owned Subsidiary in India.
- Mr. Pranesh Bhandari has resigned as the Chief Financial Officer and Key Managerial Personnel of Josts Engineering Company Ltd.
- Mr. K C Somani has been appointed as the new Chief Financial Officer and Key Managerial Personnel of Josts Engineering Company Ltd.