Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR Regulations'), we wish to inform you that the Board of Directors at ....
Awaiting price reaction for this filing.
SJ Corporation Ltd has allotted 3,50,00,000 equity shares at Rs. 12 each (including Rs. 11 premium over Re. 1 face value) on a preferential basis to 11 allottees, comprising 4 promoter-group entities and 7 non-promoter investors. The company received total consideration of Rs. 42 crore, which has increased its paid-up equity capital from Rs. 83.55 lakh to Rs. 4.33 crore (a more than 5x expansion). This allotment follows a special resolution passed at an EGM on March 2, 2026, and BSE in-principle approval dated March 9, 2026. Post-allotment, promoter group holding rises significantly, with promoter Pintu Kalavadia reaching 23.22% and Prashant Kalavadia 22.31% in the expanded capital.
This is a major dilution event for existing shareholders, with the equity base expanding over 5 times. Existing shareholders will see their stake substantially reduced, while promoter control strengthens considerably. The Rs. 42 crore infusion could be used for business expansion, though specific use of funds has not been disclosed in this filing.