The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kalpesh Patel
Awaiting price reaction for this filing.
Kalpesh Patel, identified as a proposed promoter of SJ Corporation Ltd, has disclosed the acquisition of 10,15,050 equity shares (2.34%) through a preferential allotment on 20 March 2026. Before this acquisition he held no shares in the company, so this is a fresh entry. The total equity share capital of the company increased from Rs. 83.55 lakh (83.55 lakh shares of Re. 1 each) to Rs. 4.33 crore (4.33 crore shares of Re. 1 each), a roughly 5x expansion driven by this preferential issue and likely other allotments. The note clarifies that Patel is a 'proposed promoter' who has already given an open offer via a public announcement dated 30 January 2026, and SEBI approval for the change in management is still awaited.
This signals a change-of-control event in progress, with a new promoter building a stake via preferential route. However, the massive expansion of share capital (about 5x) means significant dilution for existing shareholders. The actual promoter status and open offer are still subject to SEBI approval, so this remains a pending development to watch.