Jubilant Industries Ltd updates on restructuring proposal

The restructuring committee ("Restructuring Committee") of Jubilant Industries Limited ("Company"), held its meeting on February 24, 2021 and is evaluating the possibility of a merger / restructuring involving the Company, certain promoters of the Company and Jubilant Agri and Consumer Products Limited, Wholly-owned Subsidiary of the Company. This exercise is being contemplated in order to enable better management focus and control of the business, reduce the number of operating companies, achieve a reduction in overheads, administrative, managerial, and other expenditures, and to streamline and realign the shareholding of the Company ("Proposed Restructuring").

It is currently anticipated that the Proposed Restructuring will not result in a change of the aggregate shareholding of the promoter and promoter group in the Company. However, please note that currently the Restructuring Committee is evaluating options and there is no definitive binding proposal or arrangements for the restructuring or reorganization at the date of this disclosure. The Company shall intimate you as and when, in accordance with the Regulations, details are finalized in connection with the Proposed Restructuring or if there is any change which mandates any updated intimation.

Shares of JUBILANT INDUSTRIES LTD. was last trading in BSE at Rs.210.75 as compared to the previous close of Rs. 211.5. The total number of shares traded during the day was 5065 in over 214 trades.

The stock hit an intraday high of Rs. 214.5 and intraday low of 204. The net turnover during the day was Rs. 1065959.

Source : Equity Bulls

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