Intimation under Regulation 30 of the SEBI (Listing Regulations)
BENGALASM · price
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Bengal & Assam Company Ltd informed that its step-down subsidiary JK Agri Research Services Limited (JKARSL) — itself a subsidiary of J.K. Fenner India, a material subsidiary of the company — has allotted 50,000 fresh equity shares of Rs 10 each at par (total Rs 5 lakh) to Sridharnath Research Limited (SRL), a fellow subsidiary. As a result, SRL's stake in JKARSL will rise from 51% to 91.83%. The transaction is an internal group restructuring and was disclosed under SEBI Listing Regulations.
This is a purely internal reorganisation within the JK group of companies and is unlikely to have any material impact on Bengal & Assam Company's shareholders or stock price, as there is no change in ultimate ownership at the listed company level.