JK Tyre & Industries Limited has announced the successful distribution of proceeds from the sale of shares allotted upon the consolidation of fractional entitlements. This follows the Scheme of Amalgamation with Cavendish Industries Limited, which was sanctioned by the National Company Law Tribunal, Jaipur Bench, on 20th November 2025 and became effective on 22nd December 2025.
According to the reports from the Audit Committee of Directors and Independent Directors of JK Tyre & Industries, the proceeds from the sale of consolidated fractional entitlements have been distributed to eligible shareholders in accordance with the scheme. The equity shares were allotted on 26th December 2025, with a share exchange ratio of 92 fully paid-up equity shares of ₹2 each of JK Tyre & Industries for every 100 fully paid-up equity shares of ₹10 each of Cavendish Industries.
The company allotted a total of 1,42,69,484 equity shares of ₹2 each to the eligible shareholders of Cavendish Industries. This included the allotment of 3 equity shares, which were consolidated and sold in the open market. The sale of these shares was completed on 18th March 2026, with the proceeds distributed to the shareholders.
The average price per share, net of brokerage, taxes, and other expenses, was ₹444, resulting in a gross amount of ₹1,332. After applying income tax applicable to the trustee, the net amount distributed to the four shareholders was ₹1,013.
The Audit Committee, chaired by Dr. Nand Gopal Khaitan, along with members Shri Subhrakant Panda and Dr. Arun K. Bajoria, certified that the distribution was carried out in compliance with the SEBI Master Circular and the provisions of the scheme.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).