Promoters of Technojet Consultants have entered into a share purchase agreement with Nimesh Sahadeo Singh to transfer a 73.15% stake in the company. The deal, executed on September 18, 2026, involves the sale of 1,46,293 equity shares for a cash consideration of ₹70,22,064.

The transaction marks a change in control, with Singh proposing to acquire substantial shares and assume promoter status. The sellers include Nowrosjee Wadia and Sons Limited, Goodeed Charitable Foundation, Varnilam Investments and Trading Company Limited, Mr. Ness Nusli Wadia, MSIL Investments Private Limited, and Naperol Investments Limited.

Transaction Details

The agreement mandates that Singh will make an open offer to public shareholders in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Upon successful completion, the sellers intend to be reclassified as part of the public category under Regulation 31A (10) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, read with Clause 5A of Para A of Part A of Schedule III. The company confirmed it is not a party to the SPA and that no restrictions or liabilities are imposed on the listed entity. The transaction is not classified as a related-party transaction.

Technojet Consultants board approved a preferential issue of up to 5,00,000 equity shares at ₹48 per share. The company also proposed increasing its authorized capital from ₹20 lakh to ₹70 lakh.

The board meeting held on September 18, 2026, considered these matters under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shareholder approval is required for both the preferential issue and the capital increase.

Issue Details

The preferential issue targets persons other than promoters and promoter group. It complies with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the Companies Act, 2013.

Investor Allocation

Seven non-promoter public investors are proposed as allottees. Nimesh Sahadeo Singh is the largest recipient with 3,25,000 shares, representing 46.43% of the post-issue holding. Other investors include Nikita Sanjay Jain, Shruti Mukesh Shah, Rahul Sureshbhai Domadiya, Alpa Vijay Patel, Kaushal Nilesh Sangani, and Jai Manish Shanghvi.

Next Steps

The company scheduled an Extra-Ordinary General Meeting for October 30, 2026, to seek shareholder approval. CS Nuren Nirmal Lodaya was appointed as the scrutinizer for the e-voting process.