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Sita Enterprises has undergone a complete change of control. The earlier promoters sold 21,00,000 shares to a new promoter, Mr. Jitendra Rasiklal Sanghvi, under a share purchase agreement. Mr. Sanghvi additionally acquired 52,933 shares through a SEBI-mandated open offer. His total holding now stands at 21,52,933 shares, representing 71.76% of the company's issued capital. The earlier promoters, who previously held 22,50,000 shares (75%), are left with just 1,50,000 shares (5%) and will be reclassified as public shareholders. The shareholding changes were completed before 30 September 2025, and the revised shareholding pattern will be filed for the September quarter.
This represents a complete change of control for retail shareholders. The new promoter now commands a dominant 71.76% stake, which reduces free-float and could lead to reduced liquidity in the stock. Investors should watch for the new promoter's future plans for the company, as a controlling stake often leads to strategic shifts, potential restructuring, or delisting discussions.