Jay Bharat Maruti hikes stake in JV, buys OGIHARA Thailand's 10 pc stake

New Delhi, Mar 6 (PTI) Auto components maker Jay Bharat Maruti Ltd on Thursday said it has hiked its shareholding in JBM OGIHARA Die-Tech (P) Ltd to 49 per cent, from from 39 per cent, by acquiring equity stake from its joint venture partner OGIHARA Thailand Co Ltd.

JBM OGIHARA Die-Tech (P) Ltd (JODT) -- a joint venture of Jay Bharat Maruti Ltd (JBML), JBM Auto Ltd (JBMA) and OGIHARA Thailand Co Ltd (OTC) -- is in the business of manufacturing and selling press stamping dies and is a Tier 1 supplier of Maruti Suzuki India Ltd (MSIL).

JBML has further acquired 25,00,000 equity shares (10 per cent) of JODT, an associate company, from its existing shareholder OTC, the company said in a regulatory filing.

The cost of acquisition is at book value of Rs 12.55 per equity share totaling to Rs 3,13,75,000, it added.

The increased stake will help JBML in enhancing its output with MSIL. The technology agreement with OTC and its name in the company will continue for almost two years, the filing said.

The turnover of JODT for FY 23-24 stood at Rs 48.97 crore. PTI RKL DRR