Diggi Corporate Advisors Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under the Provisions of Regulations 3(1) and 4 read with Regulations 13(1), ....
Awaiting price reaction for this filing.
Four acquirers — Mr. Pintu Kanjibhai Kalvadia, Mr. Prashant Kanjibhai Kalvadia, Mr. Umang Kantilal Savani, and Mr. Kalpesh Patel — have made a mandatory open offer to buy up to 1,12,72,300 equity shares (26% of the expanded voting share capital) of BSE-listed SJ Corporation Limited from public shareholders. The offer price is ₹12.00 per share, taking the total deal size to about ₹13.53 crore assuming full acceptance, payable in cash. This open offer has been triggered under SEBI Takeover Regulations following two underlying deals signed on January 30, 2026: a Share Purchase Agreement to buy 49.20 lakh shares (11.35%) from the existing promoters at ₹12 each, and a Share Subscription Agreement for a preferential allotment of 2.17 crore shares (50.05%) at ₹12 each. After completing both the purchase, the preferential issue, and the open offer, the four acquirers together will hold about 87.40% of SJ Corporation. The shares are classified as infrequently traded, so the ₹12 price is formula-based rather than market-based, and the acquirers have stated there is no intention to delist the company.
This is a clear change-of-control event for SJ Corporation, with a new promoter group taking over 87% of the company. Public shareholders can choose to tender shares at ₹12.00 in cash; since the open offer is not conditional on minimum acceptance, it will go through regardless of response. The low free-float post-deal means trading liquidity will drop significantly and the acquirers must restore minimum public shareholding within 12 months.