Janashakthi Group (JXG), a prominent conglomerate in financial services spanning the Insurance, Finance, and Investment sectors, has announced a strategic move to bolster Group synergies through the transfer of 25% of First Capital Holdings PLC shares to Janashakthi Insurance PLC.
This transfer is designed to foster a more cohesive and integrated approach across Janashakthi Group’s key business units, aligning the strategic interests of Janashakthi Insurance PLC with First Capital Holdings PLC and establishing a more unified and efficient Group structure. Despite the transfer, Janashakthi Group retains 83% ownership of First Capital shares.
Ramesh Schaffter, Managing Director and Group CEO of Janashakthi Group, commented, “Consolidating the ownership structure within the Group will not only enhance operational synergies but also position us for sustained growth and success. This strategic alignment underscores our commitment to delivering greater value to stakeholders, marking a pivotal step in creating a more integrated and dynamic financial conglomerate. By leveraging the collective strengths of our key business units, we aim to enhance the overall value proposition for our clients and stakeholders.”
The move reflects Janashakthi Group’s dedication to optimizing its internal resources and maximizing collaboration among its subsidiaries, ultimately aiming to drive innovation, efficiency, and value creation across the Group’s operations.