The amalgamation scheme between JK Tyre & Industries Limited and Cavendish Industries Limited has been successfully completed, with the National Company Law Tribunal (NCLT) sanctioned merger becoming effective on December 22, 2025. The company has confirmed that the certified copy of the NCLT order has been filed with the Registrar of Companies, Jaipur, making the scheme operative from the appointed date of April 1, 2025.

Merger Implementation Details

Following the NCLT approval on November 20, 2025, JK Tyre & Industries' Board had approved December 22, 2025, as the effective date for the amalgamation scheme. With the completion of regulatory formalities, Cavendish Industries Limited, a subsidiary of JK Tyre & Industries, now stands amalgamated and dissolved without being wound up.

Enhanced Share Capital Structure

As a result of the amalgamation, the authorized share capital of Cavendish Industries has been combined with JK Tyre & Industries, resulting in a significant increase in the company's authorized share capital. The capital clause of JK Tyre's Memorandum of Association has been automatically altered without any further act or instrument.

Strategic Benefits and Synergies

The completed amalgamation is expected to deliver multiple strategic advantages:

• Operational Efficiency: Economies of scale and operational synergies across manufacturing operations
• Cost Optimization: Reduction in administrative overheads and interest costs
• Enhanced Capabilities: Expanded product offerings in automotive tyres, tubes, and flaps
• Market Strengthening: Improved distribution network and customer satisfaction
• Resource Pooling: Combined resources for accelerated growth initiatives

Financial Foundation

The merger creates a stronger financial entity, with the combined operations building upon substantial standalone net worth figures as of March 31, 2025.

Regulatory Compliance and Next Steps

The company has fulfilled all regulatory requirements, including filing the certified copy of the NCLT order with the Registrar of Companies within the stipulated timeframe. The merger also ensures compliance with Income Tax and GST laws, along with payment of necessary stamp duty and preservation of transferor company records.

With shareholders of Cavendish Industries set to receive 92 equity shares of JK Tyre & Industries for every 100 shares held, based on the record date of December 24, 2025, the integration process moves into its final phase. The successful completion of this amalgamation positions JK Tyre & Industries for enhanced competitiveness in the automotive tyre manufacturing sector.

JK Tyre & Industries has received a substantial acquisition disclosure from HDFC Mutual Fund, indicating an increase in the fund house's aggregate shareholding to 5.02% of the company's paid-up equity share capital. The disclosure was made in compliance with Regulation 29(1) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011.

Transaction Details

The acquisition took place on December 11, when HDFC Mutual Fund schemes purchased 2,57,305 additional shares through open market transactions. This brought their total shareholding from 1,35,11,303 shares (4.93%) to 1,37,68,608 shares (5.02%).

HDFC Mutual Fund Schemes Involved

The disclosure covers multiple HDFC Mutual Fund schemes that collectively hold shares in JK Tyre & Industries:

• HDFC Business Cycle Fund
• HDFC Multi Cap Fund
• HDFC NIFTY 500 MULTICAP 50:25:25 INDEX FUND
• HDFC Hybrid Equity Fund
• HDFC NIFTY SMALLCAP 250 ETF
• HDFC NIFTY SMALLCAP 250 INDEX FUND
• HDFC Small Cap Fund
• HDFC Transportation and Logistics Fund

Company Share Capital Structure

JK Tyre & Industries' equity share capital remains unchanged following this transaction. The company's paid-up equity share capital stands at ₹54.80 crores, comprising 2,74,02,027 equity shares of ₹2 each.

Regulatory Compliance

The disclosure was filed by HDFC Asset Management Company Limited, acting as investment managers for HDFC Mutual Fund. The acquisition crossed the 5% threshold, triggering mandatory disclosure requirements under SEBI regulations. HDFC Mutual Fund is not part of the promoter or promoter group of JK Tyre & Industries.

This transaction represents a strategic investment by HDFC Mutual Fund schemes in the tyre manufacturing sector, with JK Tyre & Industries being a prominent player in the Indian automotive tyre market.