SJ Corporation Limited has secured in-principle approval from BSE Limited for a preferential share issue worth ₹42 crores, marking a significant step in the company's capital raising initiative. The Mumbai-based company announced this development through an official communication to the stock exchange on March 10, 2026.

Share Issue Details

The approval covers the issuance of 3,50,00,000 equity shares with specific pricing and allocation parameters:

The preferential issue has been structured under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with regulatory frameworks governing such capital market transactions.

BSE Approval and Conditions

BSE Limited granted the in-principle approval through its letter dated March 09, 2026, reference number LOD/PREF/DA/FIP/1833/2025-26. The exchange emphasized that this approval should not be construed as automatic listing approval, requiring the company to separately comply with listing requirements.

The approval comes with several mandatory compliance conditions:

• Regulatory Compliance: Strict adherence to provisions of Companies Act 2013, Securities Contracts (Regulation) Act 1956, SEBI Act 1992, and Depositories Act 1996
• Internal Controls: Implementation of monitoring systems to track trading activities by proposed allottees
• Allottee Undertakings: Obtaining confirmations from allottees regarding restrictions on intra-day trading and sales until allotment date
• Listing Timeline: Submission of listing application within twenty days from allotment date as per SEBI circular dated June 21, 2023

Post-Approval Requirements

Following the share allotment, SJ Corporation Limited must fulfill specific post-issue formalities as outlined by BSE. The company is required to make a listing application without delay, accompanied by applicable fees, in accordance with Regulation 14 of the LODR Regulations.

BSE has reserved the right to withdraw the in-principle approval if any submitted information is found to be incomplete, incorrect, misleading, or false. The exchange also emphasized potential penalties for non-compliance with the twenty-day listing application timeline as specified in SEBI regulations.

Company Leadership

The official communication was signed by Deepak Upadhyay, Managing Director of SJ Corporation Limited (DIN: 02270389), confirming the company's receipt of the approval and commitment to regulatory compliance. The company, incorporated in 1981 with CIN L19201MH1981PLC452533, operates from its registered office in Malad East, Mumbai.

SJ Corporation Ltd has successfully completed its postal ballot process for a significant corporate restructuring initiative, with shareholders unanimously approving the alteration of the company's object clause in its Memorandum of Association. The voting process concluded on March 7, 2026, with results officially declared on March 9, 2026, accompanied by the scrutinizer's formal report.

Voting Results and Participation

The postal ballot witnessed participation from 23 shareholders out of a total shareholder base of 493, representing a substantial portion of the company's equity. The voting details demonstrate strong stakeholder support:

The breakdown by shareholder category shows comprehensive support across all groups. Promoter and Promoter Group shareholders voted all their 59,20,000 shares in favor, achieving 100% participation. Public Non-Institutional shareholders contributed 12,45,777 votes, representing 51.16% of their total shareholding of 24,35,000 shares.

Expanded Business Scope

The approved alteration significantly broadens SJ Corporation's business activities under the main objects clause. The company can now engage in manufacturing and trading of rubber products, including tread rubbers, synthetic rubbers, natural rubbers, and various rubber industry chemicals and auxiliaries.

Key new business areas include:

• Manufacturing and processing of sustainable fuels including pyrolysis oil, sustainable aviation fuel (SAF), sustainable marine fuel, and sustainable diesel fuel
• Production of recovered carbon black (rCB) derived from waste materials
• Bio and organic fertilizers, pesticides, insecticides, and agricultural inputs
• Cosmetics, healthcare products, food preservatives and additives
• Real estate development, industrial estates, and property management
• Investment activities in shares, debentures, mutual funds, and other securities

Scrutinizer's Report and Regulatory Compliance

Pooja Gala & Associates, the appointed scrutinizer, submitted their formal report confirming the successful completion of the postal ballot process. The scrutinizer confirmed that all regulatory requirements under Section 110 of the Companies Act, 2013, and related rules were met during the voting process.

The postal ballot was conducted in accordance with Section 110 of the Companies Act, 2013, and related rules. Due to prevailing circumstances, the company opted for e-voting only, with the voting period running from February 6, 2026 (9:00 a.m.) to March 7, 2026 (5:00 p.m.).

Corporate Governance and Future Prospects

The scrutinizer's report validates that the special resolution was passed with the requisite majority as mandated under the Companies Act, 2013. The company maintained proper compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The resolution enables SJ Corporation to pursue diverse business opportunities across multiple sectors, positioning the company for potential expansion into sustainable energy solutions, agricultural products, and real estate development alongside its traditional operations.

Source: Company/INE312B01027/60651795-725d-4ee6-99c1-18d7e70e8587.pdf