Jyothy Labs increases stake in Jyothy Fabricare Services to 100%

8 Sep 2022 , 09:17 AM

The Board of Directors of Jyothy Labs Limited at its meeting held on Wednesday have approved proposal to accept 32,40,000 equity shares of Rs10/- each from K. Ullas Kamath and 10,000 equity shares of Rs10/- each from Gayathri Kamath of Jyothy Fabricare Services Limited (JFSL).

In a regulatory filing, the company said on Wednesday, “By virtue of this transaction, the Company’s shareholding in JFSL has increased from 84.18% to 100% and accordingly JFSL has become the Wholly Owned Subsidiary of the Company.”

JFSL was incorporated on March 18, 2008 and is engaged in the Laundry and Dry-Cleaning Service Business.

At around 9:17 AM, Jyothy Labs Ltd is currently trading at Rs194.80 per share up by Rs0.55 or 0.28% from its previous closing of Rs194.25 per share on the BSE.

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