Acquisitions14 Oct 2026, 06:01 pm
Nidhi Granites to acquire 50.50% stake in Jowela Exim for ₹1.6 Cr
AI Summary
Nidhi Granites Limited announced its Board of Directors has approved a proposal to subscribe to the Rights Issue of Jowela Exim Private Limited, an unlisted private company. The company will invest ₹1.60 Crore (160 Lakhs) by subscribing to 16,00,000 equity shares of ₹10 each. Upon completion, Nidhi Granites' shareholding in Jowela will increase to 50.50%, making Jowela a subsidiary. The transaction does not involve related parties, and Jowela Exim operates in the precious metal and diamond jewelry manufacturing sector.
Key Highlights
- Nidhi Granites to invest ₹1.60 Crore in Jowela Exim Private Limited.
- Acquisition will result in Jowela becoming a subsidiary of Nidhi Granites.
- Nidhi Granites will hold 50.50% of Jowela's post-issue equity share capital.
- Transaction is a Rights Issue subscription, not a related party transaction.
- Jowela Exim is involved in precious metal and diamond jewelry manufacturing.
Price Impact
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