Jay Bharat Maruti (JBML) has hiked its shareholding in JBM Ogihara Die-Tech (P) (JODT) to 49 per cent from 39 per cent, by acquiring equity stake from its joint venture partner Ogihara Thailand Co. (OTC). JODT is a joint venture of JBML, JBM Auto (JBMA) and OTC and is in the business of manufacturing and selling press stamping dies, in particular high-tensile and critical BIW dies.
JBML has further acquired 25,00,000 equity shares (10 per cent) of JODT, an associate company, from its existing shareholder OTC. The cost of acquisition is at book value of Rs 12.55 per equity share totaling to Rs 3.14 crore. The increased stake will help JBML in enhancing its output with MSIL. The technology agreement with OTC and its name in the company will continue for almost two years.
Jay Bharat Maruti is an India-based company. The company is engaged in the business of auto components for automobiles.
