Jai Corp’s one of promoters, Laxmi Jain, has raised stake in the company by 3.5% for Rs 36.64 crore. Laxmi Jain had 80,03,540 shares constituting 4.49% stake in the company. Following the said transaction, Jain now holds 142,53,540 shares constituting 7.99% stake in the firm.
The said transaction was held on November 20 through ‘inter se transfer between relatives’ and executed by SSM Securities. The promoters overall held 73.01% stake in the company as of September-end.
Jai Corp traditionally is engaged into manufacturing businesses like steel, plastic processing and spinning yarn. It was incorporated in 1985. Later the company expanded in developing SEZs, infrastructure, venture capital and real estate.