The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Neerav Bairagi
Awaiting price reaction for this filing.
Mr. Neerav Bairagi, a non-promoter, has acquired 1,21,90,975 equity shares (52.64%) of JMG Corporation Ltd, making him the new promoter. The acquisition happened in two parts: 84,80,331 shares bought off-market under a Share Purchase Agreement dated December 4, 2026, and 37,10,644 shares acquired through a Mandatory Open Offer. The existing promoter is relinquishing control and management of the company in favour of the acquirer. Post-acquisition, the acquirer holds a majority 52.64% voting stake, giving him full control over the company.
This is a change-of-control event with a new promoter taking over. Shareholders should expect a new management direction and strategy under Mr. Bairagi. The stock may see volatility as the market digests the new controlling shareholder identity and any future corporate actions they may announce.