Jayant Infratech Limited submitted a clarification letter to BSE Limited regarding a clerical and typographical error in its previous disclosure about the acquisition of M/s. Jayant Infraprojects (Association of Persons). The error specifically concerned the 'Indicative time period for completion of the acquisition' in the original Annexure-A.

Acquisition Details

Target Entity: M/s. Jayant Infraprojects (Association of Persons)

  • Date of Incorporation: March 15, 2016
  • Line of Business: Design, drawing, supply, erection and commissioning of 25kV, 50Hz Single Phase Traction Overhead Equipment for the Railways, electrical contract work, and civil construction
  • Geographic Presence: India
  • Turnover History:
  • FY 2023-24: ₹18,56,52,765
  • FY 2024-25: ₹6,28,61,155
  • FY 2025-26: ₹22,58,33,237

Transaction Structure: Acquisition of business undertaking on a slump sale basis pursuant to a Business Transfer Agreement

Ownership Structure:

  • Company currently holds 30% stake in the AOP
  • Proposed acquisition of remaining 70% business stake/interest
  • Existing 30% stake will be adjusted against total purchase consideration

Purchase Consideration: ₹12.57 crore (₹1256.67 lakh) as per the valuation of the AOP

Related Party Transaction

The acquisition constitutes a Related Party Transaction under Section 2(76) of the Companies Act, 2013 and Regulation 2(1)(zb) of the SEBI Listing Regulations. Mr. Nilesh Jobanputra and Mr. Jai Jobanputra, being members of the Association of Persons, are also promoter and promoter group of the Company. The transaction is considered material under Regulation 23 of SEBI Listing Regulations and is being undertaken on an arm's length basis.

Strategic Rationale

The acquisition will enable the Company to consolidate its existing investment in the Target Entity and achieve full ownership and control over its operations. The Target Entity operates in the same line of business (railway electrification infrastructure and contracting), ensuring strong operational and strategic alignment.

Regulatory Approvals Required

The transaction is subject to approval of the Members of the Company and such other approvals as may be required, including receipt of in-principle approval from the Stock Exchange and other applicable statutory/regulatory approvals.

Revised Timeline

The indicative time period for completion of the acquisition is within six months from the date of execution of the Business Transfer Agreement (corrected from the previously disclosed three months).