Jyothi Infraventures touches roof on getting nod to acquire 100% stake in Mizzen Digital

Mizzen Ventures Ltd. | Engineering - Construction | Construction & Infrastructure | BSE: 531537 | NSE:

19 Aug 2024 Evaluate

Jyothi Infraventures is currently trading at upper limit of Rs. 33.78, up by 0.66 points or 1.99% from its previous closing of Rs. 33.12 on the BSE.

The scrip opened at Rs. 33.78 and has touched a high and low of Rs. 33.78 and Rs. 33.78 respectively. So far 2 shares were traded on the counter.

The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 33.78 on 19-Aug-2024 and a 52 week low of Rs. 8.76 on 15-Apr-2024.

Last one week high and low of the scrip stood at Rs. 33.78 and Rs. 32.48 respectively. The current market cap of the company is Rs. 5.23 crore.

The promoters holding in the company stood at 74.49%, while Non-Institutions held 25.51% stake in the company.

Jyothi Infraventures has received approval for acquisition of 100% of the Share Capital of Mizzen Digital (Target Company). The Board has approved the execution of a Share Purchase and Share Subscription Agreement (SPSSA) other necessary documents regarding the Proposed Transaction between the Company, Target Company and the shareholders of Target Company, whereby the Company agrees to acquire 100% of the share capital of the target company.

With this acquisition, the Company will gain a foothold in the software products and services space in a niche and sunrise technology vertical of Maritime / Shipping. This is an underserved sector, technologically and gives the company a unique opportunity to be in the ERP development and, therefore a front-runner to providing technology solutions in this sector.

The transaction is expected to be completed in around 3 to 4 months, subject to completion of condition precedents as detailed in the SPSSA. The board of directors in their meeting held on August 16, 2024 has approved the same.

Jyothi Infraventures engaged in handling of Infrastructure projects and also proposed to diversify into Power sector.

Jyothi Infraventures Share Price

138.90 2.90 (2.13%)

18-Jun-2026 12:26 View Price Chart

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