Zodiac-JRD-MKJ Ltd — Updates, 21-05-2025: Company Update

Zodiac-JRD-MKJ Limited, engaged in cut and polished diamonds, precious and semi-precious stones, and diamond jewellery trading since 1987, has announced a board meeting to approve its proposed rights issue. The company plans to issue up to 57.98 lakh equity shares at ₹40 each (incl. ₹30 premium) to raise around ₹23.19 Cr. The net proceeds will primarily fund the acquisition of VEM Tooling India Private Limited, marking its diversification into automotive components, with the balance for general corporate purposes. Recent financials show fluctuating revenues due to recessionary impacts, with a loss reported for FY24 largely from increased provisions for doubtful debts. The company’s promoter group, led by Mudit Jain and two corporate entities, holds significant control. No material litigations or regulatory actions against the company or promoters exist. Rights entitlements will be credited in demat form, tradable on BSE, with applications through ASBA only. The issue is not underwritten and all proceeds will be monitored by the Audit Committee.