Open Offer for SJ Corporation at Rs 12 per share by four acquirers
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Letter of Offer filed with BSE for an open offer to acquire up to 1,12,72,300 equity shares (26 percent) of SJ Corporation at Rs 12 per share from public shareholders. Four acquirers are Pintu Kalavadia, Prashant Kalavadia, Umang Savani, and Kalpesh Patel. Maximum consideration is about Rs 13.53 crore. Triggered by a Share Purchase Agreement and a preferential issue leading to change of control. Acquirers already hold 2.17 crore preferential shares. Tendering period is July 13 to July 24, 2026.
Public shareholders can sell shares at Rs 12 cash between July 13 and July 24, 2026. Acquirers are taking control of the company.