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

Four acquirers have launched an open offer for SJ Corporation Limited, seeking to acquire up to 1.13 Crore shares, representing 26% of the expanded voting capital, at ₹12.00 per share. This offer follows their acquisition of 11.35% from existing promoters and a preferential share allotment of 50.05%. The preferential issue proceeds of ₹42 Crore were used to acquire Fishfa Rubbers Limited, making it a wholly-owned subsidiary, shifting the company's focus to the rubbers business. Post-offer, the acquirers will hold 87.40%. The company reported a profit of ₹0.37 Crore for the nine-month period, while Fishfa Rubbers recorded a profit of ₹10.52 Crore for the half-year.