In a significant corporate development, Jay Jalaram Technologies Limited, a prominent mobile retail chain in India, announced that its Board of Directors has approved the proposal to acquire a commercial property in Ahmedabad for an aggregate amount not exceeding ₹10 crore. The proposal, however, is subject to approval by shareholders at the company’s 14th Annual General Meeting (AGM).

The property in question is located at Showroom 6, Videocon Arizona, Opposite Gujarat Vidyapith, Near Navgujarat College, Usmanpura, Ahmedabad, Gujarat — 380014, covering an area of 8,250 square feet. Currently, the premises serve as the company’s registered office on a rental basis.

Material Related Party Transaction

The proposed transaction qualifies as a Material Related Party Transaction under SEBI regulations because the property is owned by Mr. Kamlesh Varjivandas Thakkar, who serves as the Chairman and Managing Director (CMD) of Jay Jalaram Technologies. Furthermore, the value of the acquisition exceeds 10% of the company’s net worth based on the latest audited financial statements for the financial year 2024-25.

To comply with SEBI Listing Regulations, the company is seeking shareholder approval at the ensuing 14th AGM for this material transaction.

Board Meeting Details

The Board of Directors convened on 28th August 2025, commencing at 11:45 a.m. and concluding at 12:05 p.m. During this meeting, the purchase proposal of the Ahmedabad commercial property was thoroughly reviewed and approved, subject to shareholder consent.

Mukesh Prajapat, Company Secretary & Compliance Officer, confirmed the resolution and communicated the decision to the National Stock Exchange of India Limited (NSE) and BSE Limited for record-keeping and dissemination to investors.

Significance of the Acquisition

This acquisition aligns with the company’s strategy to:

• Secure a permanent registered office for operational stability.

• Reduce dependency on rental agreements and enhance asset ownership.

• Maintain compliance with SEBI Listing Regulations for material related party transactions.

With a total proposed investment of ₹10 crore, the transaction represents a strategically important move for the company while ensuring full transparency with shareholders and regulators.

About Jay Jalaram Technologies Limited

Jay Jalaram Technologies Limited, popularly known for its KORE mobile retail chain, is one of India’s most trusted mobile retail networks. The company specializes in retailing a wide range of mobile devices, accessories, and related electronics, focusing on customer-centric service and innovative retail solutions.

The company has a strong presence across Gujarat and other regions, providing comprehensive mobile solutions through well-established stores and showrooms. This acquisition not only strengthens its corporate infrastructure but also signals the company’s long-term commitment to growth and stability in the retail sector.

Conclusion

The Board’s approval for the purchase of the Ahmedabad property marks a key step in Jay Jalaram Technologies’ strategic expansion and infrastructure ownership. With shareholder approval at the 14th AGM, the company will acquire a prime commercial property, strengthening its operational base and ensuring compliance with SEBI regulations.

This move is expected to enhance investor confidence, secure long-term office infrastructure, and reinforce Jay Jalaram Technologies’ position as India’s trusted mobile retail chain.

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