Motor & General Finance Offloads 14.4% Stake in Jayabharat Credit
The Motor & General Finance Limited (MGF) has significantly reduced its stake in Jayabharat Credit Limited through an off-market transaction. MGF sold 720,000 shares, decreasing its shareholding from 28% to 13.6%. The transaction, involving 14.4% of Jayabharat Credit's stake, was reported in compliance with SEBI regulations. MGF's holding now stands at 680,000 shares, down from 1,400,000 shares previously. The total equity share capital of Jayabharat Credit remains unchanged at 5 million shares.
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Jayabharat Credit Limited has seen a significant change in its shareholding structure as The Motor & General Finance Limited (MGF) substantially reduced its stake through a major off-market transaction. MGF sold 720,000 shares, resulting in a decrease of its stake from 28% to 13.6% in Jayabharat Credit.
Transaction Details
The off-market deal involved the sale of shares carrying voting rights, representing a 14.4% stake in Jayabharat Credit. This transaction has altered the ownership structure of Jayabharat Credit, although the company's total equity share capital remains unchanged at 5 million shares.
Shareholding Impact
Prior to the transaction, MGF held 1,400,000 shares, accounting for 28% of Jayabharat Credit's total share capital. Following the sale, MGF's holding has been reduced to 680,000 shares, now representing 13.6% of the company.
| Aspect | Before Sale | After Sale |
|---|---|---|
| Shares Held | 1,400,000 | 680,000 |
| Stake Percentage | 28.00% | 13.60% |
Regulatory Compliance
The transaction was reported in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. It's worth noting that Motor & General Finance is not part of the promoter or promoter group of Jayabharat Credit.
Market Implications
Jayabharat Credit's shares are listed on the Bombay Stock Exchange (BSE). This significant change in shareholding pattern could potentially impact the stock's performance. Investors and market analysts will likely be closely watching for any further developments or strategic shifts resulting from this transaction.
While the specific reasons behind the sale have not been disclosed, this move by Motor & General Finance to reduce its stake in Jayabharat Credit may signal a shift in its investment strategy or portfolio rebalancing.
Historical Stock Returns for Jayabharat Credit
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.94% | +21.26% | +23.69% | -7.37% | +13.13% | +519.10% |
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