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