Appointment of Mr. Mayank Gupta & Mr. Subhash Sahu as the Directors pursuant to change in control of the Company
Awaiting price reaction for this filing.
B J Duplex Boards Limited underwent a complete change of control on May 22, 2025. The board approved a preferential allotment of 1.41 crore equity shares at ₹1 each (₹1.41 crore total) to new promoter Prabhatam Investments Private Limited (1.06 crore shares), Mayank Gupta (25 lakh, promoter group) and Sandesh Jaju (10 lakh, non-promoter), raising paid-up capital from ~₹49 lakh to ₹1.90 crore — roughly a 4x expansion. Mr. Mayank Gupta was appointed as Executive Director and KMP, while Mr. Subhash Sahu was appointed as Non-Executive Non-Independent Director, both for 5-year terms. Two outgoing directors — Whole-time Director Satya Bhushan Jain and Executive Director Sudhanshu Saluja — resigned citing the change in control. Sudhanshu Saluja also stepped down as CFO. The Audit, Nomination & Remuneration, and Stakeholders Relationship Committees were reconstituted, and the erstwhile promoters were reclassified into the public category.
This is effectively a takeover — new promoter Prabhatam Investments now controls the company, board, and key committees. Existing shareholders face significant equity dilution (paid-up capital up ~286%) and a complete management overhaul. Investors should watch for the new promoter's business plans and any further capital actions.