Announcement under Regulation 30 (LODR) - Cessation
Awaiting price reaction for this filing.
SJ Corporation Ltd has undergone a major change in management control. A group of four acquirers (Pintu Kanjibhai Kalavadia, Prashant Kanjibhai Kalavadia, Umang Kantilal Savani, and Kalpesh Patel) have taken over the company from existing promoters Savjibhai Patel and Ushaben Savjibhai Patel through a share purchase agreement (49.20 lakh shares at Rs. 12 per share, totaling Rs. 5.90 crore) and an open offer for 26% equity shares. The board has been completely reconstituted with 4 new director appointments (including Pintu and Prashant Kalavadia as Managing Director and Executive Director respectively), while 4 existing directors including Savjibhai Patel and Usha Patel resigned. CFO Ashish Satani also resigned and was replaced by Jagdish Vijaybhai Pambhar. The company reported FY26 standalone net profit of Rs. 71.21 lakh versus a loss of Rs. 20.18 lakh in FY25, with total income of Rs. 2,193.30 lakh. The registered office is shifting from Mumbai to Rajkot, Gujarat.
This is a significant change of control event with a new promoter group taking over. The company has returned to profitability in FY26. Shareholders should note the open offer at Rs. 12 per share and the complete board reconstitution. The shift to Rajkot indicates the new management's location.