Decent Q3
https://www.bseindia.com/xml-data/corpfiling/AttachLive/e5ecf799-52d5-4ba7-8eb8-a731b6355ce0.pdf
JBM Auto leading contender to acquire controlling stake in SML Isuzu.
Recent run in stock price may be attributed to this news.
JBM Auto - Acquisition
JBM Auto Limited has acquired 37% equity shareholding in VT Emobility Private Limited with the following financial details:
- Cash consideration: Rs. 9,25,000 for 92,500 Equity shares of Rs. 10 each.
- Cash consideration: Rs. 8,84,46,600 for 8,84,466 Preference shares of Rs. 100 each.
- VT Emobility Private Limited’s turnover for the year ended March 31, 2023, was Rs. 35.32 crores.
Brief Background of the Entity Acquired:
Last three years’ turnover:
2020-21: Nil
2021-22: Rs. 23.41 crores
2022-23: Rs. 35.32 crores
Presence: The acquired entity is present in India.
JBM in the last couple of quarters is focusing majorly on exports market as well. It is actively showcasing eBuses in Europe and MENA and according to some reports[1], Solaris in which JBM has majority stake was the largest manufacturer by sales volume. Germany has recently invested 53.4 millon euros to procure EV buses[2]