Key Transaction Details

  • Transaction Date: Conversion occurred on 29.06.2026
  • Intimation Received: 30.06.2026
  • Shares Allotted: 58,92,256 equity shares of ₹10 each at a premium of ₹287 per share
  • Conversion Basis: Conversion of 58,92,256 CCPS into equal number of equity shares as per terms of issue
  • Consideration: Non-cash consideration (conversion of existing CCPS)
  • Original Investment Cost: ₹175 crore aggregate cost for CCPS investment made in FY 2024-25

Ownership Impact

  • Pre-conversion Holding: 26,77,506 equity shares
  • Post-conversion Holding: 85,69,762 equity shares
  • Percentage Ownership: 43.96% of JPL's paid-up share capital of 1,94,96,456 equity shares
  • Fund Infusion: No additional funds infused into JPL

Target Company Details (Jammu Pigments Limited)

  • Business: Recycling of Non-Ferrous Metals including Lead Acid Batteries, secondary lead waste, and industrial waste
  • Operations: Technical expertise in extracting trace metals from waste materials
  • Manufacturing Units: Located in Kathua district, Jammu & Kashmir and Kota, Rajasthan
  • Incorporation Date: 29.08.2005
  • Financial Performance:
  • FY 2023-24: Turnover ₹592.30 crore, PAT ₹22.55 crore, Net Worth ₹128.66 crore
  • FY 2024-25: Turnover ₹642.50 crore, PAT ₹14.69 crore, Net Worth ₹123.30 crore
  • FY 2025-26: Turnover ₹877.89 crore, PAT ₹33.26 crore, Net Worth ₹156.49 crore

Regulatory and Governance Aspects

  • Related Party Transaction: Yes, as JPL is an associate company of GPIL
  • Promoter/Group Interest: No interest by promoter/promoter group/group companies in JPL except as stated
  • Government Approvals: Not applicable
  • Regulatory Reference: Disclosure made under Regulation 30 of SEBI Listing Regulations

Additional Information

  • The conversion was completed as per the terms and conditions of the original CCPS issue
  • The investment represents a strategic holding in the metal recycling sector
  • No further investment was required for this conversion