Jay Jalaram Technologies Acquires Remaining Stake in Techgrind Solutions, Becomes Wholly Owned Subsidiary
Jay Jalaram Technologies Limited announced the execution of a Share Purchase Agreement (SPA) on Monday, May 25, 2026. The agreement facilitated the acquisition of the remaining 4,900 equity shares, constituting 49% of the total paid-up equity share capital of Techgrind Solutions Private Limited, a subsidiary of the Company. With this acquisition, Techgrind Solutions Private Limited has become a Wholly Owned Subsidiary of Jay Jalaram Technologies Limited.The total purchase consideration for the acquisition of the remaining 49% stake was Rs. 0.49 Lakh, which has been paid in full through banking channels.
Transaction Details
The Share Purchase Agreement was executed between Jay Jalaram Technologies Limited (the Purchaser/Company) and the sellers, identified as Mr. Vipul Thakkar, Mr. Dharmendra Babubhai Patel, and Mr. Mukeshkumar Navnitray Bhatt (the Sellers/Transferors).The transaction details show the following structure regarding the shares and related parties:
| Particulars | Details |
|---|---|
| Acquired Shares | 4,900 equity shares (49%) |
| Face Value per Share | Rs. 10 |
| Total Purchase Consideration | Rs. 0.49 Lakh |
| Shares Held by Company (Pre-Acquisition) | 5,100 Equity Shares (51%) |
| Outcome | Techgrind Solutions Private Limited is now a Wholly Owned Subsidiary |
Promoter Relationship and Shareholding
The acquisition was conducted within the framework of a related party transaction, as the Target Entity is an existing subsidiary of the Company. The transaction was affirmed to be undertaken on an arms' length basis.The promoter group structure in the Target Entity is detailed as follows:
| Promoter/Director | Designation in Company | Designation in Target Entity | % of Shareholding in Target Entity |
|---|---|---|---|
| Mr. Vipul Thakkar | Non-Executive Director (Promoter Group) | Executive Director & Shareholder (Promoter) | 13.00% |
| Mr. Mukeshkumar Navnitray Bhatt | Executive Director (Promoter) | Executive Director (Promoter) | 23.00% |
Jay Jalaram Technologies Limited also disclosed that out of the 4,900 shares acquired, one equity share of M.s. Techgrind Solutions Private Limited is currently held by Mr. Vipul Thakkar in the capacity of Nominee Shareholder of the Company.
KORE Stock Price Movement
Today, Jay Jalaram Technologies Limited shares edged higher, settling at ₹128, reflecting a 4.62% gain. The stock traded a total volume of 8,500 shares throughout the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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