Jigar Cables Limited , a company listed on the BSE SME Platform, has made a significant move towards expanding its business operations. The company has successfully acquired an industrial property through an e-auction conducted by the State Bank of India (SBI), marking a strategic step in its growth plans.

Property Details

The newly acquired property is an industrial asset comprising factory land and building, located in Gomta Village, Gondal Taluka, Rajkot District. The property spans 17,705 square meters, providing ample space for the company's future expansion initiatives.

Transaction Specifics

Strategic Implications

Jigar Cables Limited has stated that this acquisition is intended for the future expansion of the company's business operations. The substantial size of the property suggests that the company may have significant growth plans in the pipeline.

Corporate Governance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Jigar Cables Limited promptly informed the BSE Limited about this material development. The intimation was signed by Mr. Ramnik P. Vaghasiya, Whole-Time Director of the company.

This strategic acquisition by Jigar Cables Limited reflects the company's commitment to growth and its proactive approach to securing assets that can support its future expansion plans. Investors and market watchers will likely keep a close eye on how the company utilizes this new industrial property to drive its business forward in the coming years.

In a series of strategic moves, Jigar Cables Limited has witnessed substantial changes in its shareholding structure, with two significant stake acquisitions through preferential issues.

Non-Promoter Acquisition

Sangitaben Niteshbhai Vaghasiya, a non-promoter investor, has acquired a substantial stake in Jigar Cables Limited. Vaghasiya obtained 500,000 shares through a preferential issue via conversion of warrants. This acquisition has significantly increased her shareholding from 274,000 shares (3.90%) to 774,000 shares, representing 8.59% of the company's voting rights.

Vaghasiya is acting in concert with Nitesh P. Vaghasiya (HUF) and Nitesh P. Vaghasiya, although they are not part of the promoter group.

Promoter Group Acquisition

In a parallel development, Ramnik Parshottambhai Vaghasiya, a member of the promoter group, also acquired a substantial stake in the company. Through a preferential issue involving the conversion of warrants, Vaghasiya acquired 700,000 shares.

This acquisition increased Ramnik Parshottambhai Vaghasiya's shareholding from 315,000 shares (4.48%) to 1,015,000 shares, now representing 11.26% of the company's voting rights.

Impact on Share Capital

Following these transactions, Jigar Cables' total equity share capital expanded significantly:

The preferential issues have resulted in a 28.15% increase in the company's total number of outstanding shares.

Market Information

Jigar Cables Limited's shares are listed on the BSE Limited. The significant changes in shareholding structure and the expansion of equity capital may attract investor attention in the coming trading sessions.

These strategic moves demonstrate the confidence of both promoter and non-promoter investors in Jigar Cables Limited's future prospects. The increased stakes of key shareholders and the expansion of the company's equity base could potentially influence its market dynamics and future growth strategies.