JK Tyre’s subsidiary, JK Tornel, has agreed to sell 40,00,000 equity shares of Cavendish Industries Ltd. to Bengal & Assam Company Ltd. (6,00,000 shares) and J.K. Fenner (India) Ltd. (34,00,000 shares). The consideration for the sale aggregates to Rs. 130.64 Crore. Cavendish Industries Ltd. remains a subsidiary of the Company after the sale.
Share Divestment Agreement
JK Tornel, S.A. de C.V., a subsidiary of JK Tyre, has entered into agreements to sell its shares in Cavendish Industries Ltd. The sale involves 40,00,000 equity shares and the agreement was executed on November 19th, 2025.
Details of the Transaction
The equity shares of Cavendish Industries Ltd. will be sold to:
- Bengal & Assam Company Ltd.: 6,00,000 shares
- J.K. Fenner (India) Ltd.: 34,00,000 shares
The total consideration received by JK Tornel for this sale is Rs. 130.64 Crore. The transaction is expected to be completed by November 30th, 2025.
Impact on Cavendish Industries
Following this transaction, Cavendish Industries Ltd. will continue to operate as a subsidiary of JK Tyre.
Financial Impact (FY’25)
The impact of Cavendish Industries on JK Tyre’s financials for FY’25 is as follows:
- Income: Rs. 3,990.85 Crore (27.02% of consolidated income)
- Net worth: Rs. 1,064.23 Crore (21.94% of consolidated net worth)
Buyer Information
Both Bengal & Assam Company Ltd. and J.K. Fenner (India) Ltd. are part of the promoter group of JK Tyre & Industries Ltd.
Source: BSE