Jindal Worldwide Limited has informed the Exchange about Notice of Postal Ballot
JINDWORLD · price
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On the reaction day the stock moved 4.5 pts less than Nifty Microcap 250 and 4.0 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Jindal Worldwide Limited has sent a Postal Ballot Notice to shareholders seeking approval via Special Resolution to sell 51% of its equity stake (1,02,00,000 shares of ₹10 each) in wholly-owned material subsidiary Goodcore Spintex Private Limited (GSPL) to Mr. Yamunadutt Amilal Agrawal for an aggregate consideration of ₹12.75 Crores (at book value). Post the sale, JWL's holding in GSPL will reduce from 100% to 49%, and GSPL will cease to be a wholly-owned subsidiary. The company states the rationale is to strategically realign focus on core operations, unlock value from non-core assets, and enable growth of the subsidiary through a strategic partnership. Proceeds will be used to strengthen the core business and explore strategic growth opportunities. E-voting runs from 3rd July 2025 to 1st August 2025, with results to be announced on or before 4th August 2025.
This is a partial divestment that monetises a material subsidiary at book value (₹12.75 Cr), reducing JWL's control of GSPL. The ₹12.75 Cr inflow will be redeployed into core business and growth opportunities, but selling at book value (rather than a market-based premium) may be viewed neutrally to negatively by investors, while cessation of subsidiary status could also trigger stock-specific re-rating considerations.