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Awaiting price reaction for this filing.
Josts Engineering Company is seeking shareholder approval via postal ballot to sell its entire 100% stake (90,18,000 equity shares) in material subsidiary JECL Engineering Limited to Mr. Rahul Dhoot for an aggregate consideration of Rs. 73 Crores (Rs. 72 Cr for shares + Rs. 1 Cr for trademark assignment), less net debt at closing. A Share Purchase Agreement was signed on February 5, 2026, and the deal is part of a strategic restructuring: the company will focus on its Engineering Products Division (EPD), which has grown at 38% CAGR over 4 years, while winding down the slower Material Handling Division (MHD) which grew at just 6% CAGR. E-voting runs from February 10, 2026 to March 11, 2026 via NSDL. Post-sale, JECL will cease to be a subsidiary, and the Thane land previously used for MHD manufacturing is expected to be monetized for additional value.
The divestment sharpens the company's focus on the faster-growing EPD business, which could support long-term shareholder value, but the MHD wind-down means loss of that revenue stream. Approval outcome and closure of the transaction will be key near-term catalysts to watch.