Laxmi Jain hikes stake in Jai Corp to 7.9%

As of September-end, promoters overall held 73% stake in the company

Jai Corp Ltd, which has interests in developing special economic zones and infrastructure, today said one of its promoters, Laxmi Jain, has raised stake in the firm by 3.5% for Rs 36.64 crore.

Laxmi Jain had 80,03,540 shares or 4.49% stake in Jai Corp. Following the transaction, Jain now holds 142,53,540 shares or 7.99% stake in the firm, it said in a BSE filing.

The transaction was held on November 20 through "inter se transfer between relatives" and executed by SSM Securities, the company said.

As of September-end, promoters overall held 73.01% stake in the company.

Shares of the company were trading at Rs 63.45 apiece, down 1.09%, in the afternoon trade on the BSE.