Jaykay Enterprises Limited has informed the Exchange regarding Execution of Slump Sale Agreement for acquisition of Business Undertaking of Patange Industries Private Limited
JAYKAY · price
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Jaykay Enterprises Limited has executed a Slump Sale Agreement to acquire the Business Undertaking of Patange Industries Private Limited (PIPL) for Rs. 5 Crores in cash. The acquisition is on a going concern basis and covers PIPL's business in defence precision manufacturing, fabrication and engineering design services. The deal is subject to closing adjustments and fulfillment of agreed conditions. The transaction is not a related party transaction and was done at arm's length. This marks Jaykay Enterprises' entry into the defence manufacturing sector.
Positive for shareholders as the company diversifies into defence precision manufacturing, a strategic sector with growth potential. The Rs. 5 Crores deal size is modest but could add meaningful revenue if the acquired business performs well.