Disclosure under Regulation 30 of the SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015
BENGALASM · price
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Bengal & Assam Company Ltd (BACL) and its subsidiary J.K. Fenner (India) Ltd (JKFIL) are together buying 40 lakh equity shares of Cavendish Industries Ltd (CIL), a subsidiary of JK Tyre & Industries, from JK Tornel (Mexico), another group entity. Total deal value is Rs. 130.64 crore at Rs. 326.60 per share, with BACL buying 6 lakh shares (1% stake) for Rs. 19.60 crore and JKFIL buying 34 lakh shares (5.67%) for Rs. 111.04 crore. CIL operates in the Tyres & Rubber Products space and posted revenues of roughly Rs. 3,900-3,980 crore over the last three years. CIL will continue to remain a subsidiary of JK Tyre even after this share transfer. The deal is a related-party transaction routed through the promoter group, and is described as a strategic investment since BACL is itself a promoter of JK Tyre.
This is a relatively small, strategic cross-holding reshuffle within the JK Group rather than a transformative deal for BACL shareholders — only Rs. 19.60 crore of the total outflow comes directly from the listed company, and no open offer is triggered. Investors should note the related-party nature and that CIL's turnover (~Rs. 4,000 crore) dwarfs BACL's direct investment, so any future value will depend on how this tyre-business stake plays out.