Digjam Limited has informed the Exchange about change in Management
DIGJAMLMTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.1 pts more than Nifty Microcap 250 and 4.6 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Digjam Limited's board, at a meeting on June 29, 2025, accepted the resignation of Director Mr. Parashiva Murthy B S for personal reasons and appointed Mr. Ruchit Bharat Patel (DIN: 00603359), a Mumbai-based gastroenterologist, as an Additional Non-Executive Non-Independent Director. The board also approved a Scheme of Arrangement to demerge the textile business of Reid & Taylor International Pvt Ltd (RTIL), a fellow Finquest Group company, into Digjam, with an appointed date of July 1, 2025. The demerged textile business had a turnover of about Rs 488.81 crore in FY25, roughly 26.86 times Digjam's own turnover, making this a size-transforming deal. Shareholders of RTIL will get 46,481 shares of Digjam (face value Rs 10) for every 100 RTIL shares held, resulting in the issue of 7.13 crore new Digjam shares. Post-scheme, promoter holding will be 74.97% and public holding 25.03%, with the total share count rising to about 9.13 crore from the current 2 crore.
The demerger will dramatically scale up Digjam's textile business but will also lead to significant equity dilution for existing shareholders, while the share exchange ratio heavily favours RTIL shareholders. The board reshuffle is minor and unlikely to affect operations, though the incoming director appears to be from the Patel promoter family.