In a significant ownership change, Sharad Poddar has divested his entire individual stake in Jattashankar Industries Limited through an off-market transaction. The deal, which was executed on July 31, 2025, saw Poddar selling 536,633 shares, representing 12.23% of the company, to Nileshbhai Bhagvanjibhai Podar at a price of Rs. 60.00 per share.

Transaction Details

Ownership Structure Post-Transaction

The transaction was conducted in compliance with the mandatory open offer requirements as per SEBI regulations. It's worth noting that while Sharad Poddar's individual holding has been reduced to zero, persons acting in concert (PAC) continue to maintain a significant stake in the company.

Company Overview

Jattashankar Industries Limited has an equity share capital comprising 4,388,100 shares with a face value of Rs. 10.00 each. This transaction marks a notable shift in the company's ownership structure, potentially influencing its future direction and governance.

Investors and market watchers may want to keep an eye on any subsequent changes in the company's management or strategic decisions following this substantial stake transfer.

Jattashankar Industries Limited, a Mumbai-based company, has significantly expanded its business scope and made several key appointments during its 37th Annual General Meeting (AGM) held on September 20, 2025. The shareholders approved a series of resolutions that signal a major shift in the company's strategic direction.

Expansion of Business Scope

The most notable change was the amendment to the company's Memorandum of Association, specifically altering the Object Clause. This amendment broadens Jattashankar Industries' business scope to include:

• Purchase, sale, supply, import, export, trading, and distribution of agriculture products, edible oils, food products, commodities, and allied goods
• Establishment and operation of manufacturing and processing facilities, refineries, warehouses, silos, cold storages, and packaging units
• Engagement in wholesale and retail trade of agriculture products, edible oils, food staples, processed foods, specialty fats, and allied consumer products
• Development and promotion of brands, trademarks, labels, and packaging related to the new business areas

This strategic move positions the company to diversify its operations and potentially tap into the growing agriculture and food processing sectors.

Key Appointments and Governance Changes

The AGM also saw the approval of several important appointments:

1. Mr. Keval Jayanti Khudai was appointed as the Managing Director for a term of three years.
2. Mr. Vishal Prakashbhai Ashara's designation changed from Additional Director to Executive Director for a five-year term.
3. Mr. Nileshbhai Bhagvanji Bapodara was appointed as a Whole Time Director for three years.
4. Mr. Siddharth Parshottam Gajra and Mr. Harsh Pankajkumar Nayak were regularized as Independent Directors for five-year terms.

Additionally, the company appointed M/s B.S. Vyas & Associates as the Secretarial Auditor for a five-year term.

Other Key Resolutions

Shareholders also approved several other significant resolutions:

• Shifting of the registered office from Mumbai to Pune
• Increase in the overall borrowing limit under Section 180(1)(c) of the Companies Act, 2013
• Approval for creation of mortgage or charge on the company's assets
• Authorization to give loans, guarantees, and provide security under Sections 185 and 186 of the Companies Act, 2013

Voting Results

All resolutions were passed with 100% approval from the voting shareholders. The AGM saw participation from 5 promoters and promoter group members, and 44 public shareholders through video conferencing.

These developments indicate that Jattashankar Industries is embarking on a significant transformation, expanding its business horizons while strengthening its governance structure. The unanimous approval of all resolutions suggests strong shareholder support for the company's new direction and leadership changes.