Jyothy Labs Ltd increases stake in Jyothy Fabricare Services Ltd to 100%

The Board of Directors of Jyothy Labs Limited at its meeting held today have approved proposal to accept 32,40,000 equity shares of Rs. 10/- each from Mr. K. Ullas Kamath and 10,000 equity shares of Rs. 10/- each from Mrs. Gayathri Kamath of Jyothy Fabricare Services Limited (JFSL).

By virtue of this transaction, the Company's shareholding in JFSL has increased from 84.18% to 100% and accordingly JFSL has become the Wholly Owned Subsidiary of the Company.

JFSL was incorporated on March 18, 2008 and is engaged in the Laundry and Dry-Cleaning Service Business.

Source : Equity Bulls

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