Jindal Worldwide Limited has informed the Exchange regarding Board meeting held on Jun 28, 2025.
JINDWORLD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Jindal Worldwide Limited's board, meeting on June 28, 2025, approved selling 51% of its wholly-owned material subsidiary Goodcore Spintex Private Limited to Mr. Yamunadutt Amilal Agarwal, who is the company's promoter. Goodcore contributed Rs. 25,237.50 lakhs in turnover (11.02% of consolidated revenue) and Rs. 803.02 lakhs in profit (10.59%) for FY25. The deal is classified as a related party transaction conducted at arm's length and is subject to shareholder approval through a postal ballot notice issued on the same day. The company will retain a 49% stake in Goodcore after the transaction.
This is a significant partial divestment of a material subsidiary to the promoter, which may raise corporate governance questions despite the arm's length certification. Shareholders will need to vote via postal ballot; the deal could be seen as either the promoter showing personal confidence in the unit or a signal that the listed entity is restructuring its business mix.