Subsidiary6 Feb 2026, 01:11 pm
Josts Engineering Company Ltd to Sell Subsidiary JECL Engineering Limited for Rs. 72 Crores
AI Summary
Josts Engineering Company Ltd has entered into a Share Purchase Agreement with Mr. Rahul Dhoot for the sale of 100% of its shareholding in its material subsidiary, JECL Engineering Limited, for a total consideration of Rs. 72,00,00,000. The sale is subject to the approval of the shareholders of the Company through postal ballot including e-voting. Upon completion of the sale, JECL Engineering Limited would cease to be a subsidiary of Josts Engineering Company Ltd. The contribution of JECL Engineering Limited to the consolidated income and net worth of Josts Engineering Company Ltd is detailed in Annexure-A.
Key Highlights
- Josts Engineering Company Ltd has agreed to sell its subsidiary, JECL Engineering Limited, to Mr. Rahul Dhoot for Rs. 72 Crores.
- The sale is subject to the approval of the shareholders of Josts Engineering Company Ltd through postal ballot including e-voting.
- Upon completion of the sale, JECL Engineering Limited would cease to be a subsidiary of Josts Engineering Company Ltd.
- JECL Engineering Limited contributed 2.60% to the consolidated income and 27.04% to the consolidated net worth of Josts Engineering Company Ltd as of 31st March 2025.
- The sale is expected to be completed by May 5, 2026, subject to the achievement of closing conditions and terms of the definitive agreements.