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Jaykay Enterprises acquires controlling stake in Neumesh after joint venture agreement

The company has invested ~Rs2.06cr in 20.55 lakh equity shares of Rs10 each for a 69.78% stake in Neumesh.

July 23, 2021 9:50 IST | India Infoline News Service
Acquisition Concept
Jaykay Enterprises Limited (JKE) in the joint venture has incorporated Neumesh Labs Private Limited for the purpose, with 70% and 30% of shareholding each of JKE and A3D Singapore Pte Ltd (EOS) respectively, to engage, inter alia, in the business of the 3D printing technology in India.

The company has invested ~Rs2.06cr in 20.55 lakh equity shares of Rs10 each of Neumesh.

“The allotment constitutes the 69.78% of the Equity Share Capital of Neumesh and Neumesh thereby has become Subsidiary company of the Company with effect from today,” company said in a regulatory filing on Thursday.

The company had approved a draft Joint Venture and Shareholders Agreement with EOS Singapore Pte Ltd and after finalization of terms of Agreement, a Joint Venture and Shareholders Agreement was entered into and executed between JKE and A3D Singapore Pte Ltd (EOS), an affiliated to EOS Singapore Pte Ltd, and consequent upon which a JV company has been incorporated in the name of Neumesh for the purpose.

The company said EOS is a global stalwart in 3D Printing Technology and development, design and supply of machines, products and processes for 3D printing. 

At around 9.54 am, Jaykay Enterprises Ltd was trading at Rs41 per piece down by Rs0.15 or 0.36% from its previous closing of Rs41.15 per piece on the BSE.

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