M&A
Jaykay Enterprises acquires 76% in Allen Reinforced Plastics for Rs.90-Cr
Kanpur-based, publicly listed Jaykay Enterprises Limited ((Formerly J.K. Synthetics Ltd.), through its wholly owned subsidiary JK Defence & Aerospace Ltd, has acquired the 76.41% equity stake in Hyderabad-based Allen Reinforced Plastics Pvt Ltd, for INR 90 crore. Incorporated in December 1987, Allen is involved in the design, development, manufacture and testing of composite and allied engineering products for Defence and Aerospace industries such as missile and rockets components, underwater applications, marine and submarine, guns and accessories. The company's turnover for the last three fiscal years were INR 8.6 Cr (FY21), INR 29 Cr (FY22) and INR 25.2 Cr (FY23).
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