The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Umang Kantilal Savani
Awaiting price reaction for this filing.
Umang Kantilal Savani, identified as a proposed promoter of SJ Corporation Ltd, has acquired 42,61,202 equity shares (9.83%) through a preferential allotment dated 20/03/2026. Prior to this, he held no shares in the company, and after the acquisition his holding stands at 9.83%. The company's share capital increased significantly from Rs. 83.55 lakh (83.55 lakh shares) to Rs. 4.33 crore (4.33 crore shares) as a result of this preferential issue. Mr. Savani had given an open offer via public announcement dated 30 January 2026, and SEBI approval for the change in management of the company is still awaited.
This marks the entry of a new proposed promoter with a meaningful 9.83% stake, signaling an impending change in management and control of SJ Corporation. Shareholders should watch for the open offer timeline and SEBI's approval, as this could lead to a change in board composition and corporate direction.