JK Tyre & Industries Ltd has announced that its subsidiary JK Tornel, S.A. de C.V. has entered into agreements to sell 40 lakh equity shares of Cavendish Industries Ltd for an aggregate consideration of Rs 130.64 crore.
The transaction involves the sale of 6 lakh equity shares to Bengal & Assam Company Ltd, a promoter entity, and 34 lakh equity shares to J.K. Fenner (India) Ltd, part of the promoter group. The deal is structured as a related party transaction conducted at arm's length pricing.
According to the disclosure filed with BSE Ltd and the National Stock Exchange, Cavendish Industries Ltd will continue to remain a subsidiary of JK Tyre & Industries following the completion of this divestment. The transaction is expected to be completed by November 30, 2025.
Cavendish Industries contributed significantly to JK Tyre's consolidated financials during the last financial year, accounting for 27.02% of consolidated income with revenues of Rs 3,990.85 crore and representing 21.94% of net worth at Rs 1,064.23 crore.
JK Tyre & Industries Ltd is the flagship company of JK Organisation and ranks among India's leading tyre manufacturers, positioned within the top 25 manufacturers globally. Founded in 1951, the company pioneered radial technology in India by producing the first radial tyre in 1977 and currently holds market leadership in the Truck Bus Radial segment.
The company maintains a global presence across 105 countries through over 230 international distributors. JK Tyre operates 11 globally benchmarked sustainable manufacturing facilities—nine in India and two in Mexico—collectively producing approximately 35 million tyres annually. The distribution network comprises over 6,000 dealers and more than 650 dedicated brand shops operating under the Steel Wheels and Xpress Wheels formats.
JK Tyre provides comprehensive solutions across multiple segments, including passenger vehicles, commercial vehicles, farming, off-the-road applications, and two and three-wheelers. The company introduced India's first Smart Tyre technology and Tyre Pressure Monitoring Systems, which monitor vital statistics such as pressure and temperature. In 2020, JK Tyre achieved the milestone of producing its 20 millionth Truck/Bus Radial tyre, becoming the first Indian company to reach this benchmark.