Resignation of Mr. Satya Bhushan Jain from the position of whole time director & Mr. Sudhanshu Saluja from the position of Director & Chief Financial Officer
Awaiting price reaction for this filing.
BJ Duplex Boards announced a major change in control on May 22, 2025. The company allotted 1,41,00,000 equity shares at ₹1 each (raising ₹1.41 crore) on a preferential basis to promoter and non-promoter allottees, taking paid-up capital to ₹1,90,28,500 (1.90 crore shares). Prabhatam Investments Private Limited became the new promoter, and erstwhile promoters were reclassified to the Public category. Mr. Satya Bhushan Jain (Whole-time Director) and Mr. Sudhanshu Saluja (Executive Director & CFO) resigned citing the change in control. Mr. Mayank Gupta was appointed as Executive Director and KMP (joining the promoter group), and Mr. Subhash Sahu was inducted as a Non-Executive Non-Independent Director. The Audit, Nomination & Remuneration, and Stakeholders' Relationship committees were reconstituted.
This is a significant ownership and management change at the company, with new promoters taking control and fresh leadership installed. Shareholders should expect a shift in strategic direction, while near-term stock price may react to the change in control and dilution from the preferential allotment at face value.