JK Tyre Distributes Proceeds from Fractional Entitlement Sale
JK Tyre & Industries Limited announced on March 23, 2026, that it has distributed proceeds from the sale of consolidated fractional entitlements to eligible shareholders of Cavendish Industries Ltd., following a scheme of amalgamation.The Scheme of Amalgamation of Cavendish Industries Ltd. with JK Tyre & Industries Limited and their respective shareholders was sanctioned by the Hon'ble National Company Law Tribunal, Jaipur Bench on November 20, 2025, and became effective on December 22, 2025, with a deemed appointed date of April 18, 2025. As part of the scheme, 1,42,69,484 equity shares of Rs. 2/- each were allotted to eligible equity shareholders of Cavendish Industries Ltd. This included 3 equity shares of Rs. 2/- each allotted upon consolidation of fractions, held in trust by Shri Ashok Kumar Kinra for the benefit of the respective fractional entitlement holders.
The 3 equity shares were sold in the open market, and the proceeds were distributed on March 18, 2026, as detailed below:
| No. of Equity Shares | Average price per share (net off brokerage taxes and other expenses) in Rs | Gross Amount in Rs | Income-tax applicable to the Trustee in Rs | Net Amount distributed to the four shareholders in Rs |
|---|---|---|---|---|
| 3 | 444 | 1,332 | 319 | 1,013 |
The distribution was certified by the Audit Committee of the Board of Directors and the Independent Directors of JK Tyre & Industries Limited, in compliance with SEBI Master Circular No. SEBI/HO/CFD/POD-2/P/CIR/2023/93 dated June 20, 2023.
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