The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pintu Kalavadia
Awaiting price reaction for this filing.
SJ Corporation Ltd has informed BSE that Pintu Kanjibhai Kalavadia, a proposed promoter, has acquired 82,11,874 equity shares (18.94%) of the company on a preferential allotment basis. The allotment was completed on 20 March 2026. Before this acquisition, he held zero shares; after the acquisition, his holding stands at 18.94% of the equity and voting capital. The company's equity share capital expanded 5x, from Rs. 83.55 lakh (83.55 lakh shares of Re. 1) to Rs. 4.33 crore (4.33 crore shares of Re. 1). Mr. Kalavadia had earlier made an open offer announcement on 30 January 2026, and SEBI's approval for change in management of the company is still awaited.
This allotment marks the entry of a new proposed promoter with a sizeable 18.94% stake, which is a positive structural change but does not give majority control. Shareholders should watch for the open offer and SEBI approval, which could trigger further buying and a change in management direction.