Outcome of Board meeting.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The board of Jagsonpal Finance and Leasing Limited approved a Share Purchase Agreement to acquire 100% of Welcast Finstocks Private Limited, an RBI-registered NBFC incorporated in 1996. The deal covers 1,97,170 equity shares and 52,750 compulsorily convertible preference shares at Rs. 212.23 per share, payable in cash. Welcast Finstocks reported zero turnover in the last three financial years (FY22, FY23, FY24). The acquisition is not a related party transaction but requires RBI approval and is expected to complete by December 2025. Separately, the board noted the Registrar of Companies' no-objection to changing the company's name to 'Jagsonpal Services Limited', subject to shareholder approval at the upcoming AGM.
The acquisition is small in scale and the target has no revenue, so financial impact is limited unless future business plans add value. The name change signals a strategic repositioning away from the finance/leasing identity, which existing shareholders will need to approve.