JBM Auto Limited has issued a clarification regarding a news item published in The Economic Times concerning its subsidiary, JBM Electric Vehicles Private Limited. The company stated that its subsidiary continuously evaluates strategic initiatives, including potential fund-raising opportunities, to support growth and expansion. As of the filing date, there is no material information requiring disclosure under SEBI regulations.
Clarification on Subsidiary’s Strategic Initiatives
JBM Auto Limited has responded to inquiries from the National Stock Exchange of India (NSE) and BSE Limited (BSE) concerning a news item featured on The Economic Times website. The company has provided clarification on the matter, which pertains to its subsidiary, JBM Electric Vehicles Private Limited.
Subsidiary’s Growth and Funding Evaluation
In its official communication, JBM Auto stated that the management of its subsidiary, JBM Electric Vehicles Private Limited, routinely assesses various strategic initiatives as part of its ordinary business operations. These initiatives include exploring potential opportunities for fund-raising to bolster the subsidiary’s growth and expansion plans. The company emphasized that these evaluations are a standard part of business development.
Disclosure Compliance
JBM Auto Limited confirmed that, as of the date of the announcement, there is no material information that necessitates disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015. The company assured that appropriate disclosures will be made should any material information arise in the future. Furthermore, JBM Auto affirmed its commitment to complying with all applicable disclosure requirements under the Listing Regulations.
Source: BSE
