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Jyothy Labs Ltd (JL) has divested its 75% equity stake in Jyothy Kallol Bangladesh Limited (JKBL) to Kallol Enterprise Ltd. The deal was completed for a consideration of BDT 3,01,92,134. This sale was approved by Jyothy Labs’ Board of Directors on March 25, 2025. After the sale, JKBL will no longer be a subsidiary of Jyothy Labs.
As of March 31, 2024, JKBL had a revenue of BDT 520 lakh, which accounted for 0.14% of Jyothy Labs’ total revenue. JKBL’s net worth, as of the date of the financials, was BDT 1,023 lakh, approximately 0.42% of Jyothy Labs’ consolidated net worth.
The acquiree, Kallol Enterprise Ltd, is based at Tejgaon Industrial Area in Dhaka, Bangladesh. Despite being a related party transaction, the deal was negotiated at fair market value. Jyothy Labs clarified that the sale does not constitute a Scheme of Arrangement under SEBI’s LODR Regulations, 2015.
As required by Regulation 30 of the SEBI LODR Regulations, read with the SEBI Circular, Jyothy Labs has filed the necessary disclosures regarding this transaction. Overall, this disposal of stake will help Jyothy Labs focus on its core businesses and goals, and the company will no longer have a significant presence in JKBL’s operations. This transaction is a strategic move aimed at unlocking value for shareholders, and the company will continue to explore opportunities to optimize its portfolio and improve performance.