Majestic Research promoters secure 95% stake through IBC resolution plan
- Promoter group acquired 95% stake in Majestic Research Services
- Allotment of 3,92,350 shares at ₹10 per share face value
- Transaction executed under NCLT-approved IBC Resolution Plan
- Five individual promoters hold zero shares prior to allotment
- Exemption from open offer granted under SEBI Regulation 10(1)(da)
*this image is generated using AI for illustrative purposes only.
Majestic Research Services and Solutions Limited confirmed that its promoter group has acquired a 95% equity stake in the company. The transaction involved the preferential allotment of 3,92,350 fresh equity shares to five individuals, marking a significant shift in ownership following the company's insolvency proceedings.
The allotment was executed pursuant to a Resolution Plan approved by the National Company Law Tribunal (NCLT), Bengaluru Bench, on June 20, 2025. The acquisition falls under Section 31 of the Insolvency and Bankruptcy Code, 2016. Consequently, the acquirers are exempt from making an open offer under Regulation 10(1)(da) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Transaction details and pricing
The shares were allotted at a price of ₹10 each, which is equal to the face value of the equity shares. The disclosure was filed with BSE Limited on October 3, 2026, under Regulation 10(6) of the SEBI takeover regulations. The acquiring entities, identified as the Promoters/Acquirers, include Parth Shaileshbhai Patel, Rashmikaben S Patel, Alpesh Amrutlal Patel, Nitin Dahyabhai Patel, and Jalak Shaileshbhai Patel.
Prior to this transaction, none of the five individuals held any shares in the company. The post-transaction shareholding pattern reflects a concentrated ownership structure among these five promoters.
| Acquirer name | Pre-transaction shares | Post-transaction shares | Post-transaction stake (%) |
|---|---|---|---|
| Parth Shaileshbhai Patel | 0 | 1,56,940 | 38.00 |
| Rashmikaben S Patel | 0 | 1,17,705 | 28.50 |
| Alpesh Amrutlal Patel | 0 | 39,235 | 9.50 |
| Nitin Dahyabhai Patel | 0 | 39,235 | 9.50 |
| Jalak Shaileshbhai Patel | 0 | 39,235 | 9.50 |
| Total | 0 | 3,92,350 | 95.00 |
What the numbers show
The data reveals a complete transfer of control from external stakeholders to the promoter group, who previously held zero equity. By acquiring 95% of the diluted share capital, the five named individuals have consolidated near-total control over Majestic Research Services. The remaining 5% of shares are held by other shareholders not part of this specific preferential allotment. This concentration suggests that the resolution plan effectively handed operational and strategic control back to the original promoter family, bypassing typical open-offer requirements due to the statutory nature of the IBC process.
What specific operational turnaround strategies will the new promoter group implement to restore Majestic Research Services' profitability following the insolvency resolution?
How might the exemption from SEBI's open offer requirements influence future investor sentiment and liquidity in the company's remaining 5% public float?
Are there any pending regulatory or compliance challenges that could delay the full operational integration of the newly acquired 95% stake?
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