Business Update12 Oct 2024, 02:03 am
JSW Infrastructure Acquires 70.37% Stake in Navkar Corporation
AI Summary
JSW Infrastructure Ltd announces the completion of a significant acquisition by its wholly owned subsidiary, JSW Port Logistics Private Limited. The acquisition involves the purchase of 70.37% of the total equity share capital of Navkar Corporation Limited from certain promoters and members of the promoter group. This acquisition, which was subject to certain conditions precedent, has resulted in Navkar Corporation becoming a step-down subsidiary of JSW Infrastructure Ltd.
Key Highlights
- JSW Infrastructure's subsidiary, JSW Port Logistics Private Limited, acquires 70.37% stake in Navkar Corporation Limited
- The acquisition involves the purchase of 10,59,19,675 fully paid up equity shares of Navkar Corporation
- The transaction was completed after fulfilling certain identified conditions precedent
- Navkar Corporation has now become a step-down subsidiary of JSW Infrastructure Ltd
- This acquisition is a significant move for JSW Infrastructure in expanding its portfolio and influence in the market