AJC Jewel Manufacturers Ltd Approves 80% UAE Stake Through Share Swap

Board approved acquisition of 80% of AJC Jewel Manufacturers FZC, UAE, for up to Rs 9.6 Cr via share swap; up to 5,67,492 shares at Rs 169.16 each. Brings the Sharjah jewellery manufacturing operation into the subsidiary structure, advancing the company’s UAE expansion. Subject to shareholder and regulatory approvals; promoter-group related-party transaction. Promoter holding rises to 59.85% from 56.33%; target profitability undisclosed.