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Jubilant Ingrevia’s Subsidiary to Acquire 6.67% Stake in FAPL

Updated on: Dec 31, 2024, 4:01 PM IST
Jubilant Ingrevia's subsidiary, Jubilant Infrastructure, to acquire an additional 6.67% stake in Forum I Aviation, increasing its total shareholding to 15.79%.
Jubilant Ingrevia’s Subsidiary to Acquire 6.67% Stake in FAPL
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Jubilant Ingrevia Limited’s wholly owned subsidiary, Jubilant Infrastructure Limited (JIL), has approved the acquisition of an additional 6.67% equity stake in Forum I Aviation Private Limited (FAPL). This acquisition increases JIL’s total holding in FAPL to 15.79%.

Strategic Acquisition in the Aviation Sector

The purpose behind JIL’s investment in FAPL is to support the subsidiary’s business growth. FAPL, a non-scheduled airline operator, offers chartered aircraft services and has seen a steady revenue increase. For FY 23-24, FAPL posted a revenue of ₹2,732 lakh, up from ₹2,157.95 lakh in FY 22-23.

Acquisition Details and Timeline

The shares of FAPL are being acquired at a price of ₹10.2915 each. JIL already holds a 9.12% stake in FAPL, and this acquisition will be completed within the current financial year. By increasing its stake, JIL aims to strengthen its presence in the aviation industry, which is crucial for its expanding business strategy.

On December 31, 2024, Jubilant Ingrevia share price opened at ₹814.80, touching the day’s high at ₹833.95, as of 9:51 AM on the NSE.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Dec 31, 2024, 12:44 PM IST

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