SJ Corporation Ltd — Important, 01-01-1970: Company Update

SJ Corporation Limited faces a change in control as a group of four acquirers will jointly purchase 11.35% of the company's expanded voting capital from current promoters for ₹5.90 Cr. Additionally, they will subscribe to a preferential issue of 50.05% shares for ₹26.04 Cr. This triggers a mandatory open offer for public shareholders to acquire up to 26% of the company's expanded capital at ₹12.00 per share, totaling ₹13.53 Cr. The acquirers intend to expand the company’s business operations. Post-offer, the acquirers will hold 87.40%, necessitating a plan to comply with minimum public shareholding norms. The Offer Price of ₹12.00 per share is higher than the certified fair value of ₹10.32.