Jaykay Enterprises Limited has informed the Exchange about acquisition of the Business Undertaking of Patange Industries Private Limited by way of slump sale.
JAYKAY · price
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Jaykay Enterprises Limited's Board has approved the acquisition of Patange Industries Private Limited's (PIPL) business undertaking engaged in defence precision manufacturing, fabrication and engineering design services. The acquisition is through a slump sale on a going concern basis for cash consideration. PIPL reported a turnover of Rs. 903.06 Lakhs for FY 2024-25, showing significant growth from Rs. 52.40 Lakhs in FY 2023-24. The deal is aligned with Jaykay's strategy to expand in the Defence & Aerospace sector and strengthen its engineering capabilities. The transaction does not involve share acquisition or related party involvement.
This acquisition strengthens Jaykay Enterprises' presence in the defence and aerospace sector, potentially adding to its revenue and capabilities. The stock may see positive sentiment given the strategic fit and the target company's growing turnover.