Jaykay Enterprises Limited to acquire 99% in Silvergrey Engineers

The Board of Directors of Jaykay Enterprises Limited in their Board Meeting held today has taken on record the decision to acquire 99% interest in Silvergrey Engineers (SGE) a partnership firm which is engaged in manufacturing and supply of parts and accessories to defence equipment manufacturing industry, catering to HAL, BEL, ISRO, Gas Turbine Research Establishment, Aeronautical Development Agency, Tata Advance Systems and others. M/s Silvergrey Engineers presently has a small manufacturing unit located at Bengaluru. The other 1% Capital in SGE is proposed to be acquired by another Promoter Company.

The Subsidiary Company (JV Company) i.e. M/s Neumesh Labs Pvt Ltd. the Center of Excellence (COE) for Hi-Tech Manufacturing established in Bangalore, has become operational from March 30, 2022. This will help NeuMesh Labs to prototype various parts and new developments in collaboration with different agencies and consulting on digital manufacturing.

The Company proposes to diversify into Real Estate activities by way of developing its own Land Bank or through Joint Venture, joint Development Model, Development Model(DM), acting as Project Management Consultant, Real Estate Management and other allied activities.

Shares of JAYKAY ENTERPRISES LTD. was last trading in BSE at Rs. 92.70 as compared to the previous close of Rs. 83.60. The total number of shares traded during the day was 613513 in over 2193 trades.

The stock hit an intraday high of Rs. 94.60 and intraday low of 82.90. The net turnover during the day was Rs. 55259290.00.

Source : Equity Bulls

Keywords

JAYKAYENTERPRISES INE903A01025 Acquisition RealEstate