The company formed a joint venture with Lauren Engineers and Constructors Inc. Pursuant to this, the company on Wednesday has acquired a 50 percent equity stake in Lauren Engineers and Constructions India Pvt. Ltd., a wholly-owned subsidiary of Lauren US. The JV is being re-named as ‘Lauren Jyoti Pvt. Ltd.’
Lauren US is an EPC contracting company having more than 30 years experience in setting up projects in the power generation and oil and gas sector in the US and Canada. The main object of the JV company is to secure similar business. At the BSE, Jyoti Structures shares are being traded at Rs.71.05, up by 2.45 percent from the previous close.