JTL Infra Ltd to purchase manufacturing assets of Jagan Industries Pvt Ltd

To increase the manufacturing capacities, capabilities of JTL Infra Ltd and to achieve the greater economies of scale, strengthen company's bargain power and to further fortify in its position in existing markets, the company has decided to purchase Manufacturing Assets of M/s Jagan Industries Private Limited (CIN: U00000CH1990PTC010011), a promoter group entity, on WDV (for moveable fixed assets) and/or FMV (for immovable fixed assets).

This ready to use manufacturing assets shall, post integration of its operation with company's existing businesses, generate annual revenue of approx. Rs. 200 Crores and 'll result in balance sheet going forward.

Being a related party transaction and as a good corporate governance practice, the sale consideration is calculated on the basis of arm length price payable in cash. The transaction is expected to be completed within Q3 of FY2021.

Shares of JTL INFRA LTD. was last trading in BSE at Rs.140 as compared to the previous close of Rs. 143.65. The total number of shares traded during the day was 1931 in over 23 trades.

The stock hit an intraday high of Rs. 143.65 and intraday low of 140. The net turnover during the day was Rs. 271581.

Source : Equity Bulls

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