Jyothy Labs to sell Bangladesh unit for BDT 30.19m
Jyothy Labs [BSE: 532926] announced today that its Board of Directors has approved the sale of its entire equity stake in Jyothy Kallol Bangladesh Limited (JKBL) to Kallol Enterprise Limited for a total consideration of Bangladeshi Taka 30,192,134. With the execution of a Share Purchase Agreement, Jyothy Labs has effectively sold its 75% stake in JKBL, and JKBL ceased to be a subsidiary on March 25, 2025. The transaction is classified as a related party transaction but is conducted at arm's length. JKBL contributed BDT 520 lakhs in revenue (0.14% of company revenue) and BDT 1,023 lakhs in net worth (0.42% of company net worth) to Jyothy Labs' consolidated figures as of March 31, 2024.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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