Quantum Magnetics Pvt Ltd inks JV agreement with Lorentic Pte. Ltd.

Quantum Magnetics Private Limited (QMPL), a wholly owned subsidiary of PERMANENT MAGNETS LIMITED, has entered into a Joint Venture Agreement with Lorentic Pte. Ltd. (Lorentic). The Board of Directors of Permanent Magnets Limited (Holding company of QMPL) approved the same in its Board Meeting dated August 28, 2025.

Pursuant to the execution of definitive agreements, including a Joint Venture cum Shareholders' Agreement, Quantum Magnetics Private Limited (QMPL) will cease to be a wholly owned subsidiary of the Company upon allotment of equity shares to the Joint Venture partner. Until such allotment takes place, QMPL continues to remain a wholly owned subsidiary of the Company.

The JV agreement involves manufacturing, marketing, and distribution of neodymium magnets and related magnetic assemblies, along with collaboration on research and development of advanced magnetic products.

The JV will enable QMPL to expand its product portfolio, strengthen R&D capabilities, enhance market reach (including international markets), and improve competitiveness, creating longterm strategic value for all stakeholders.

Shares of PERMANENT MAGNETS LTD. was last trading in BSE at Rs. 1202.20 as compared to the previous close of Rs. 1161.50. The total number of shares traded during the day was 36904 in over 1945 trades.

The stock hit an intraday high of Rs. 1229.90 and intraday low of 1164.90. The net turnover during the day was Rs. 44572894.00.

Source : Equity Bulls

Keywords

PERMANENTMAGNETS INE418E01018 JVAgreement QuantumMagnetics Lorentic