26-Aug-2026 12:06:41
JAINRECAcquisition and merger
JAIN RESOURCE RECYCLING LIMITED : DUBAI STEP-DOWN SUBSIDIARY ACQUIRES 99.74% EQUITY OF JAIN IKON GLOBAL VENTURES FZC
• The Borrowing and Investment Committee has approved the conversion of an outstanding loan of AED 1,70,64,000 (approx. INR 44.50 Cr) advanced by the Company to Jain Ikon Global Ventures FZC into equity shares of Jain Ikon. • Upon conversion, the Company's shareholding in Jain Ikon will increase from 70.00% to 99.74%. • The transaction involves conversion of an existing outstanding loan into equity and does not involve any fresh cash outflow. • Jain Ikon is a subsidiary of the Company, engaged in Gold and silver refining, melting, chemical purification and casting. • The conversion is subject to requisite corporate, regulatory and other approvals.
Jain Resource Recycling Limited
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