Please find attached Public Announcement in relation to Open Offer to Publica Shareholder
Awaiting price reaction for this filing.
SJ Corporation Ltd has informed BSE about a mandatory Open Offer triggered by a change in control of the company. Four acquirers — Pintu Kanjibhai Kalvadia, Prashant Kanjibhai Kalvadia, Umang Kantilal Savani, and Kalpesh Patel — are buying shares from existing promoters and subscribing to a preferential issue, giving them a combined 87.40% stake post-transaction. The Open Offer is for up to 1,12,72,300 shares (26% of expanded voting capital) at ₹12.00 per share, totaling up to ₹13.52 crore in cash to public shareholders. The underlying transactions include a Share Purchase Agreement for 11.35% stake at ₹5.90 crore and a Share Subscription Agreement for 50.05% stake at ₹26.04 crore, both at ₹12 per share. The shares of SJ Corporation are classified as infrequently traded, and the offer price was determined per SEBI SAST norms.
Public shareholders of SJ Corporation can tender their shares at ₹12.00 per share until the offer closes. The change of control to the four new acquirers means a significant shift in promoter ownership, though the company will not be delisted. Existing shareholders should watch for the Detailed Public Statement expected by February 6, 2026.