Nidhi Granites acquires 50.5% stake in Jowela Exim, makes it subsidiary
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Board approved subscribing to the Rights Issue of Jowela Exim Private Limited for 16,00,000 equity shares at Rs 10 each, totaling Rs 1.6 crore in cash. Post-allotment, Nidhi Granites will hold 50.50% of Jowela, making it a subsidiary. Jowela operates in precious metal and diamond-studded jewelry manufacturing, import, and export, with a turnover of about Rs 74.35 crore for FY26. The deal is not a related party transaction and is expected to be completed by end of October.
Adds a revenue-generating jewelry subsidiary to the company, though the Rs 1.6 crore investment size is modest relative to Jowela's turnover.