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“This is to inform that, Jubilant Infrastructure Limited (“JIL”), wholly owned subsidiary of the company at its Board Meeting held today has approved purchasing of a 6.67% equity Share in Forum I Aviation Private Limited (FAPL) from Hero Fincorp Limited & Sunil Kant Munjal,” Jubilant Ingrevia said in a regulatory filing.
This purchase increases JIL’s total holding in FAPL to 15.79%. Forum I Aviation, incorporated on December 28, 2004, operates aircraft on a charter basis under a Non-Scheduled Airlines Permit issued by India’s Ministry of Civil Aviation. The company reported revenue of ₹27.32 crore in FY 2023-24.
The acquisition, valued at ₹10.29 per share, aligns with Jubilant Infrastructure’s strategic objectives to support business requirements. The transaction is expected to be completed within the current financial year and will be executed through cash consideration.
Shares of Jubilant Ingrevia Ltd ended at ₹810.25, up by ₹9.30, or 1.16% on the BSE.
