SJ Corporation Ltd Acquires Significant Stake Through Preferential Allotment
SJ Corporation Ltd announced on March 25, 2026, that Umang Kantilal Savani has acquired 42,61,202 equity shares, representing 9.83% of the company, through a preferential allotment.According to a filing, Savani, a proposed promoter of the company, had previously made a public announcement on January 30, 2026, regarding an open offer. Approval from the Securities and Exchange Board of India (SEBI) for a change in management is currently pending.
Prior to the acquisition, Savani and persons acting in concert held no shares in the company. Following the acquisition, the total holding of Savani and persons acting in concert is 42,61,202 equity shares, or 9.83% of the company's total share capital.
The company's equity share capital before the acquisition was Rs. 83,500, divided into 83,55,000 equity shares of Re. 1 each. After the acquisition, the equity share capital stands at Rs. 4,33,55,000, divided into 4,33,55,000 equity shares of Re. 1 each. The total diluted share/voting capital of the company after the acquisition remains Rs. 4,33,55,000, divided into 4,33,55,000 equity shares of Re. 1 each.
| Detail | Value |
|---|---|
| Shares acquired | 42,61,202 |
| Percentage acquired | 9.83% |
| Equity share capital before acquisition | Rs. 83,500 |
| Equity share capital after acquisition | Rs. 4,33,55,000 |
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