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Updated on: Sunday, January 09, 2022, 03:57 PM IST

JBM Auto arm buys 51% stake in two companies

After the aforesaid acquisition, JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited have become indirect subsidiary companies of the Company.
JBMEV has purchased 51% equity shareholding from Neel Metal Products Limited. |

JBMEV has purchased 51% equity shareholding from Neel Metal Products Limited. |

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JBM Electric Vehicles Private Limited, a wholly owned subsidiary of JBM Auto Limited,, has acquired 51% Equity Shares in JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited.

After the aforesaid acquisition, JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited have become indirect subsidiary companies of the Company.

JBMEV has purchased 51% equity shareholding from Neel Metal Products Limited which is part of Promoter/ Promoter Group of the Company holding |Promoter Group of the Company holding 100% shares in the acquired entity.

JBM Auto Ltd. is the flagship company of JBM Group. The company has diversified into bus manufacturing with an aim to become a globally benchmarked producer of modern intra-city buses.

(With inputs from agencies)

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Published on: Sunday, January 09, 2022, 03:57 PM IST
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