Digjam Limited has informed the Exchange regarding Change in Director(s) of the company.
DIGJAMLMTD · price
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Digjam Limited's board accepted the resignation of Mr. Parashiva Murthy B S as Director effective June 29, 2025, citing personal reasons, with no material concerns flagged. In the same meeting, the board appointed Mr. Ruchit Bharat Patel as an Additional Non-Executive, Non-Independent Director; he is the brother of existing Executive Director Mr. Hardik Bharat Patel, indicating a promoter-family board addition. The board also approved a Scheme of Arrangement to demerge the textile business of Reid & Taylor International Pvt Ltd (RTIL) into Digjam, with an appointed date of July 1, 2025. The demerged undertaking had a turnover of about ₹48,881 lakhs, roughly 2,686% of Digjam's standalone turnover. Shareholders of RTIL will receive 46,481 Digjam shares for every 100 RTIL shares, leading to the issuance of 7,13,01,854 new shares, with no cash consideration. Post-scheme promoter holding will be 74.97% and public holding 25.03%, pending NCLT, SEBI, and stock exchange approvals.
For shareholders, the board change is routine but the demerger is material — it will significantly scale up Digjam's textile operations and dilute existing shareholders by issuing new shares. The share-swap structure means no cash outflow, but the post-scheme promoter holding remains nearly unchanged at ~75%. Investors should track NCLT and SEBI approvals as key milestones.