Please find attached Intimation of In-Principle Approval received for Issue 3,50,00,000 Equity Shares on a Preferential Basis.
Awaiting price reaction for this filing.
SJ Corporation Ltd has received in-principle approval from BSE to issue 3,50,00,000 equity shares of face value Re. 1 each at Rs. 12 per share, including a premium of Rs. 11 per share. The shares will be allotted on a preferential basis to proposed promoters and non-promoters, taking the total issue size to around Rs. 42 crore. BSE has granted the approval under SEBI's Listing Regulations, but the company must still complete the actual allotment, comply with SEBI ICDR rules, and file a separate listing application within 20 days of allotment. The company has also been advised to obtain undertakings from allottees to prevent any trading violations around the allotment date.
For existing shareholders, this is a significant dilution event — the preferential issue will expand the share base by 3.5 crore shares. The fact that promoters are part of the allottee group suggests promoter commitment, which may be viewed positively, though retail investors should watch for the final allotment price and post-issue shareholding pattern.