Ludlow Jute & Specialities Limited has acquired 100% equity shares of SEVA BY TARA FOUNDATION , marking the establishment of a wholly owned subsidiary focused on social welfare initiatives. The transaction, disclosed on July 24, 2026, expands the group’s operational scope beyond its core jute business into veterinary activities, educational support services, and other social work activities without accommodation.

The acquisition was executed through a cash consideration of ₹10 lakh, representing the subscription of 100,000 equity shares at a price of ₹10 per share. Ludlow Jute & Specialities Limited classified SEVA BY TARA FOUNDATION as a related party transaction due to its status as a wholly owned subsidiary. The deal received the necessary incorporation approval from the Ministry of Corporate Affairs.

Transaction Details

The following table outlines the key financial and structural parameters of the acquisition as disclosed in the filing:

Strategic Context

SEVA BY TARA FOUNDATION is incorporated as a Section 8 company, indicating its non-profit nature aimed at promoting charitable objects such as education, art, science, sports, research, social welfare, religion, charity, protection of the environment, or any other useful purpose. The entity’s authorized and paid-up capital stands at ₹10,00,000. As a non-profit organization, turnover metrics are not applicable to the foundation.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company confirmed that the acquisition aligns with regulatory requirements for related party transactions involving wholly owned subsidiaries.

Ludlow Jute & Specialities has approved the re-appointment of Mr. Ashish Chandrakant Agrawal as Managing Director for a further period of three years, effective from June 13, 2026. The decision, subject to shareholder approval, ensures continuity in leadership as the company focuses on operational excellence and business growth. The Board of Directors approved the re-appointment at its meeting held on June 13, 2026, based on the recommendation of the Nomination and Remuneration Committee.

Re-appointment Details

The re-appointment extends Mr. Agrawal's tenure for three consecutive years, concluding on June 12, 2029. The appointment is contingent upon securing the necessary approval from the shareholders. The company disclosed that Mr. Agrawal is not related to any other directors on the Board and is not debarred from holding the office of Director by any SEBI order or other authority.

Profile and Experience

Mr. Ashish Chandrakant Agrawal brings over 30 years of industry experience to the role. He holds a B.Tech degree in Chemical Engineering from Laxminarayan Institute of Technology and a Master's degree in Finance and Personnel Management from Dhanwate National College. Throughout his career, he has held key leadership positions including Processing Head, Quality Head, Cost Control & MIS Head, Project Head, and Business Head.

Mr. Agrawal has played a significant role in driving operational excellence and business growth. He presently serves as the Managing Director, providing strategic leadership for the company's overall operations and development.