The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Savji Patel
Awaiting price reaction for this filing.
Promoter Savjid Patel has disclosed a significant decline in his shareholding percentage from 37.39% to 7.21% in SJ Corporation Ltd. The change occurred because the company allotted 3,00,000 equity shares on a preferential basis to proposed promoters and non-promoters on 20th March 2026. While Patel retained his 31,24,000 shares, the total share capital increased from 83,55,000 shares to 4,33,55,000 shares, causing a dilution of his effective holding. This is a routine disclosure under SEBI SAST regulations to report the change in shareholding pattern following a preferential allotment.
Savjid Patel's stake dropped sharply from 37.39% to 7.21%, falling well below the 50% promoter holding threshold. This significant dilution indicates substantial dilution of promoter control, which could be viewed negatively by investors concerned about governance or insider commitment.