JBM Auto Limited (BSE:532605) agreed to acquire the remaining 26.11% stake in JBM Auto System Private Limited from five shareholders for INR 2.4 billion on March 1, 2018. The consideration will be paid as 86 shares of JBM Auto Limited for every 100 shares of JBM Auto System Private Limited. In a related transaction, JBM Auto Limited agreed to acquire remaining 50% stake in JBM MA Automotive Private Limited. JBM Auto System Private Limited reported net worth of INR 2.4 billion as at March 31, 2017. For the year ended March 31, 2017, JBM Auto System Private Limited reported revenues of INR 8.4 billion. Scheme is subject to sanctioning by NCLT Delhi and Mumbai. BSE and NSE has approved the transaction on June 4, 2018. A meeting of creditors of JBM Auto Limited and JBM Auto System Private Limited will be held for the transaction. A meeting of shareholders of JBM Auto Limited will be held on August 25, 2018. As of July 19, 2018, a meeting of the shareholders and creditors of JBM Auto Limited will be held on August 24, 2018 to approve the transaction. The shareholders of JBM Auto System Private Limited have given their consent by way or affidavits thus the requirement to convene a meeting of equity shareholders is dispensed with. The audit committee of JBM Auto System Private Limited recommended the transaction. The Board of Directors of JBM Auto System Pvt. Ltd. and JBM Auto Limited unanimously approved the transaction on March 1, 2018. The transaction is approved by the National Company Law Tribunal New Delhi Bench on June 14, 2019. The transaction is approved by the National Company Law Tribunal Mumbai Bench on October 25, 2019. Santosh K. Singh & Co. acted as the valuer and Finshore Management Services Ltd. provided fairness opinion to JBM Auto Limited on the transaction. JBM Auto Limited (BSE:532605) completed the acquisition of the remaining 26.11% stake in JBM Auto System Private Limited from five shareholders on January 1, 2020.