Allotment of shares under the Scheme of Amalgamation - Intimation under Regulation 30 of the SEBI (Listing Regulations), 2015
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Bengal & Assam Company Ltd (BACL) and its subsidiary J.K. Fenner (India) Ltd (JKFIL) have received a total of 23,92,000 equity shares of JK Tyre & Industries Ltd at Rs 326.60 per share, valued at Rs 78.12 crore. This allotment is pursuant to a Scheme of Amalgamation whereby erstwhile Cavendish Industries Limited (a subsidiary of JK Tyre) was merged into JK Tyre. BACL received 5,52,000 shares (0.19% stake, worth Rs 18.03 crore) and JKFIL received 18,40,000 shares (0.64% stake, worth Rs 60.09 crore). The record date for the allotment was 24th December 2025, and the shares are being credited to their demat accounts.
The BACL group has converted its earlier investment in Cavendish Industries into a direct stake in listed JK Tyre & Industries, gaining exposure to the tyre and rubber products sector. While the stake sizes are small (under 1%), the transaction crystallises the value of the group's holding through the merger, with no cash outflow since it is a share-swap under the approved scheme.