Announcement under Regulation 30 of SEBI Listing Regulations, 2015 - Acquisition
JAYKAY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Jaykay Enterprises Ltd (JKE) board approved acquiring 1,24,07,276 partly paid-up equity shares of JK Technosoft Limited (JKTL) for an aggregate consideration of about Rs. 112.46 crore. The deal is structured as a share swap, where JKE will issue its own equity shares (face value Re. 1) to existing JKTL shareholders, with an effective acquisition price of Rs. 163 per fully paid-up share. Post-deal, JKE's stake in JKTL will rise from 97.48% to 99.07%. JKTL is an IT services company focused on AI, ML, and digital transformation, with FY24 standalone turnover of Rs. 163.70 crore. The board also approved a preferential issue of equity shares (up to Rs. 112.46 crore) for the swap and introduced the JKE Employee Stock Option Scheme 2025 covering 30 lakh options. The acquisition is not a related party transaction, except for promoter group members Abhishek and Varsha Singhania who hold shares in JKTL.
This is a consolidation move rather than a new acquisition, as JKE already holds 97.48% in JKTL and is increasing it to 99.07%. Existing JKE shareholders will see dilution from the new equity shares issued for the swap, while gaining fuller control over JKTL's IT services revenue. Share price may react based on the swap ratio and perceived value of JKTL relative to JKE.