Jyothy Labs Divests 75% Stake in JKBL to Kallol Enterprise

26 Mar 2025 , 04:24 PM

Jyothy Labs Ltd (JL) has divested its entire 75% equity stake in Jyothy Kallol Bangladesh Limited (JKBL) to Kallol Enterprise Ltd. The deal was completed for a consideration of BDT 3,01,92,134.

The sale was approved by the Board of Directors at a meeting held on March 25, 2025. Post sale, JKBL ceases to be a subsidiary of Jyothy Labs. Jyothy Labs signed a share purchase agreement (“SPA”) with Kallol Enterprise Limited, the prior 25% owner of JKBL.

JKBL extended a revenue of BDT 520 lakh for the year up to March 31, 2024, representing about 0.14% of the total revenues of Jyothy Labs. The net worth of JKBL, as on the date of the financials is considered, was BDT 1,023 lakh which is around 0.42% to that of the consolidated net worth of Jyothy Labs.

Particularly the acquirer entity is Kallol Enterprise Limited, locating at Tejgaon Industrial Area, Dhaka, Bangladesh.The transaction is considered a related party transaction but was negotiated at fair market value. Jyothy Labs said the sale does not constitute a Scheme of Arrangement under SEBI’s LODR Regulations, 2015.

With reference to the captioned subject matter, we would like to inform you that the company has filed the requisite disclosures under Regulation 30 of the SEBI LODR Regulations, read with the SEBI Circular.