Jaykay Enterprises Ltd acquires stake in JK Technosoft Ltd

The Board of Directors (the "Board") of Jaykay Enterprises Limited ("the Company" or "JKE") has, at its meeting held today i.e. April 11, 2025, considered and approved the acquisition of Equity Shares of JK Technosoft Limited ("Target Company" or "JKTL"). The company will make investment by way of secondary acquisition of 1,24,07,276 Partly paid-up Equity Shares of face value of Rs. 10/- (Paid up Rs. 2.50/-) each of JK Technosoft Limited, for an aggregate consideration not exceeding Rs. 1,12,45,95,496.64/- at an adjusted acquisition price of Rs. 90.64/-, after adjusting the amount outstanding on the said partly paid-up shares, payable by the Company by way of Swap of 1,24,07,276 partly paid-up Equity Shares of JKTL against issuance of fully paid-up Equity Shares of the Company, having face value of Re. 1/- (Rupee One Only) each, to the existing shareholders of the Target Company, for an amount aggregating to upto Rs. 1,12,45,95,496.64/- on preferential basis, at such issue price as may be determined by the Board/ Committee of Directors in accordance with the provisions of Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations"), as amended and applicable provisions of Companies Act, 2013 and rules made thereunder, subject to the approval of the shareholders of the Company and such other regulatory/ statutory approvals as may be required.

Post the above acquisition, the Company's holding in JKTL would stand increased to 99.07% from the present 97.48%. (assuming full conversion of Partly Paid Shares into Fully Paid Shares).

JKTL specializes in IT services with a strong focus on Artificial Intelligence (AI), Machine Learning (ML), and Digital Transformation. JKTL has been a key player in providing end-to-end digital solutions, catering to a diverse clientele across industries such as healthcare, manufacturing, and BFSI (Banking, Financial Services, and Insurance).

Note: The Acquisition Price in respect of the above acquisition has been computed at Rs. 163/- each fully paid-up share.

Shares of JAYKAY ENTERPRISES LTD. was last trading in BSE at Rs. 129.90 as compared to the previous close of Rs. 127.55. The total number of shares traded during the day was 37889 in over 395 trades.

The stock hit an intraday high of Rs. 133.10 and intraday low of 128.10. The net turnover during the day was Rs. 4971736.00.

Source : Equity Bulls

Keywords

JAYKAYENTERPRISES INE903A01025 Acquisition JKTechnosoft