Jattashankar Industries Undergoes Major Ownership Shift as New Promoters Take 72.55% Control
A group of five new promoters has acquired a 72.55% stake in Jattashankar Industries Limited, a Mumbai-based company. The acquisition involves 31,82,900 equity shares, with individual shareholdings ranging from 11.40% to 16.46%. The previous promoter group has completely divested their stake and requested reclassification to 'public' category. This change in ownership structure could potentially bring new strategic direction to the company.

*this image is generated using AI for illustrative purposes only.
Jattashankar Industries Limited , a Mumbai-based company, has announced a significant change in its ownership structure, with a new group of promoters acquiring a controlling stake in the firm. The transition marks a pivotal moment for the company as it moves forward under new leadership.
New Promoters Take the Helm
The Acquirer group, consisting of five individuals, has successfully completed the acquisition of 31,82,900 equity shares, representing a substantial 72.55% of Jattashankar Industries' equity share capital. This acquisition was executed through an open offer, resulting in a complete overhaul of the company's promoter group.
The new promoters and their respective shareholdings are as follows:
Promoter Name | Shareholding | Percentage |
---|---|---|
Nileshbhai Bhagvanji Bapodara | 7,21,933 | 16.46% |
Vishal Prakashbhai Ashara | 7,00,000 | 15.96% |
Keval Jayanti Khuda | 7,00,000 | 15.96% |
Tarunkumar Gunvantlal Patel | 5,60,967 | 12.79% |
Vedant Tarunbhai Patel | 5,00,000 | 11.40% |
Exit of Previous Promoters
Concurrent with this acquisition, the previous promoter group has completely divested their stake in the company. The outgoing promoters, including Jattashankar Poddar, Sharad Poddar, Seema Jattashankar Poddar, Seema Sharad Poddar, Subhash Poddar HUF, and Sharad Poddar HUF, have formally requested reclassification from 'promoter/promoter group' to 'public' category.
Regulatory Compliance
In accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the outgoing promoters have confirmed that they:
- No longer hold more than 10% of the total voting rights in the company
- Do not exercise control over the company's affairs
- Have no special rights through formal or informal arrangements
- Are not represented on the board of directors
- Are not acting as key managerial personnel
Implications for Jattashankar Industries
This change in ownership structure could potentially bring new strategic direction and management approach to Jattashankar Industries. Shareholders and market observers will likely be watching closely to see how this transition affects the company's operations and future growth plans.
The company has duly informed the BSE Limited of these changes, adhering to the regulatory requirements for such significant shifts in ownership and control.
As Jattashankar Industries embarks on this new chapter under fresh leadership, stakeholders will be keen to see how the new promoter group leverages their controlling stake to drive the company's performance and create value for all shareholders.
Historical Stock Returns for Jattashankar Industries
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
+0.40% | +1.70% | +10.62% | +49.34% | +569.33% | +2,078.21% |