JBM Auto Limited has announced the incorporation of a new wholly owned subsidiary, JBM EV Ventures Private Limited, according to a regulatory filing dated February 26, 2025.
The Certificate of Incorporation for the new entity was issued by the Registrar of Companies, NCT of Delhi and Haryana on February 19, 2025, and was received by JBM Auto on February 25, 2025.
According to the disclosure provided under SEBI regulations, the new subsidiary has been established with an authorized share capital of Rs. 10 lakhs and a paid-up capital of Rs. 5 lakhs. JBM Auto holds 100% shareholding in the newly formed company.
The primary objective of JBM EV Ventures Private Limited is to provide electric vehicle (EV) battery services on a subscription basis, including leasing and renting of EV batteries. The subsidiary will also focus on research, development, manufacturing, and sale of advanced battery technologies and related products.
Additional business activities will include supporting electric vehicle adoption, participating in government and private sector initiatives to promote sustainable transportation, and other allied business activities that align with the company's interests.
The new subsidiary is yet to commence business operations. This strategic move appears to position JBM Auto to capitalize on the growing electric vehicle market in India.
The company made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.