Jubilant Ingrevia Limited — Important, 30-12-2024: General Updates

Jubilant Infrastructure Limited (JIL), a wholly owned subsidiary of Jubilant Ingrevia Limited, has approved the acquisition of 6.67% equity shares in Forum I Aviation Private Limited (FAPL). Following this transaction, JIL will hold a total of 15.79% shares in FAPL. The acquisition is aimed at supporting FAPL’s business requirements in the non-scheduled air transport sector, where FAPL has demonstrated solid revenue growth, reporting Rs. 2,732.00 crore in FY 23-24, up from Rs. 2,157.95 crore in FY 22-23. The transaction is set to be completed within the current financial year at a share price of Rs. 10.2915, reflecting JIL's strategic focus on enhancing its investment in the aviation sector. Investors should watch closely as this move may bolster JIL’s portfolio and operational capabilities.