JK Tyre sets Dec 24 as record date for Cavendish Industries merger

JK Tyre & Industries Ltd on Friday, November 28, said its board has taken on record the certified copy of the National Company Law Tribunal’s (NCLT) Jaipur Bench order approving the merger of Cavendish Industries Ltd (CIL) with the company.

The board has fixed December 22, 2025, as the effective date of the scheme, operative from the appointed date of April 1, 2025.

It has also set December 24, 2025, as the record date to determine the shareholders of Cavendish Industries eligible to receive JK Tyre equity shares under the merger scheme. Once the scheme takes effect, Cavendish Industries will stand amalgamated with JK Tyre and cease to exist without winding up.

The development follows JK Tyre’s announcement earlier this month that its subsidiary, JK Tornel, SA de CV, has entered into an agreement to sell 40 lakh equity shares of CIL to SMMS Trust for ₹130.64 crore. Despite the stake sale, the company clarified that Cavendish Industries would continue as a subsidiary until the merger becomes effective.

Cavendish Industries has been contributing to JK Tyre’s consolidated revenue and net worth, and the amalgamation is expected to streamline group structure and enhance operational efficiency.

Shares of JK Tyre & Industries Ltd ended marginally lower on Friday, November 28, by 0.11% at ₹447.80 on the NSE.

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