Bengal & Assam Company invests Rs 130.64 crore in Cavendish Industries

Bengal & Assam Company Limited (BACL), along with its subsidiary J.K. Fenner (India) Limited (JKFIL), has entered into agreements to acquire a total of 4,000,000 equity shares of Cavendish Industries Limited (CIL) from JK Tornel, S.A. De C.V. BACL will purchase 600,000 shares and JKFIL will acquire 3,400,000 shares. The total consideration for this transaction is Rs. 130.64 crore, with the price per share at Rs. 326.60.

This acquisition results in BACL holding 1% and JKFIL holding 5.67% of Cavendish Industries Limited, which remains a subsidiary of JK Tyre post-sale. The company emphasizes that the investment in CIL shares is strategic, aligning with its role as a promoter of JK Tyre. The acquisition is expected to be completed by November 30, 2025, and the consideration will be paid in cash.

Cavendish Industries Limited, incorporated on January 12, 2015, operates in the Tyres & Rubber Products industry. Its turnover for the last three years was Rs. 3,981.24 crore (previous year), Rs. 3,657.11 crore (second previous year), and Rs. 3,864.14 crore (third previous year).