Disclosure of Acquisition of Shares of JKV Solutions Limited.
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Mena Mani Industries Ltd has acquired 100% equity stake (63,69,671 shares) in JKV Solutions Limited, a software and IT services company, making it a wholly owned subsidiary. The deal is a share swap — no cash is being paid. Instead, Mena Mani will issue and allot 1,05,09,957 fresh equity shares of Re. 1 each at Rs. 8 per share (including Rs. 7 premium), totalling Rs. 8.40 crore in value. JKV Solutions had a turnover of Rs. 285.30 lakh in FY25, Rs. 298.86 lakh in FY24, and Rs. 294.66 lakh in FY23. The acquisition is not a related party transaction, requires no regulatory approvals, and is part of Mena Mani's strategy to enter the software and IT services space.
This is a non-cash acquisition that will expand Mena Mani Industries into the software/IT services sector through a wholly owned subsidiary. Shareholders will see equity dilution of roughly 1.05 crore new shares issued for the swap, though the target's turnover is modest relative to the deal value, so near-term impact on financials may be limited. The move signals a diversification strategy rather than an immediate revenue boost.