Jattashankar Industries Undergoes Major Ownership Shift as New Promoters Take 72.55% Control

1 min read     Updated on 18 Aug 2025, 07:11 PM
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Ashish ThakurBy ScanX News Team
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Overview

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.

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*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 Day5 Days1 Month6 Months1 Year5 Years
+0.40%+1.70%+10.62%+49.34%+569.33%+2,078.21%
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Jattashankar Industries Promoters Undergo Significant Shareholding Changes

1 min read     Updated on 01 Aug 2025, 07:24 PM
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Reviewed by
Ashish ThakurBy ScanX News Team
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Overview

Jattashankar Industries Limited has undergone significant changes in its promoter shareholding structure. Jattashankar Poddar, the Managing Director, reduced his stake from 32.39% to 20.62% by selling 516,533 shares. Sharad Poddar, another promoter, completely exited the company by selling his entire 32.37% stake. Meanwhile, director Vishal Prakashbhai Ashara acquired a 15.96% stake through the purchase of 700,000 shares. All transactions were conducted off-market and reported to the BSE in compliance with SEBI regulations.

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*this image is generated using AI for illustrative purposes only.

Jattashankar Industries Limited , a Mumbai-based company, has recently witnessed substantial changes in its promoter shareholding structure. The company, listed on the Bombay Stock Exchange (BSE), has reported multiple off-market transactions involving its key promoters and directors.

Jattashankar Poddar Reduces Stake

Jattashankar Poddar, the Promoter and Managing Director of Jattashankar Industries Limited, has sold 516,533 equity shares valued at Rs 3.10 crore through off-market transactions on the BSE. This sale has resulted in a significant reduction of his shareholding in the company:

Shareholding Shares Percentage
Previous 1,421,100 32.39%
Current 904,567 20.62%

The transaction was disclosed under the Securities and Exchange Board of India's (SEBI) insider trading regulations.

Sharad Poddar's Complete Exit

In a series of transactions, Sharad Poddar, another promoter and director of the company, has completely divested his stake in Jattashankar Industries:

  • Sold 883,467 shares for Rs 5.30 crore
  • Sold the remaining 536,633 shares for Rs 3.22 crore

These sales have reduced Sharad Poddar's shareholding from 1,420,100 shares (32.37%) to zero, marking his complete exit from the company's ownership structure.

New Director Acquires Substantial Stake

Amidst these promoter sales, Vishal Prakashbhai Ashara, a director of Jattashankar Industries, has made a significant purchase:

  • Acquired 700,000 equity shares for Rs 4.20 crore
  • This acquisition represents a 15.96% stake in the company

Implications and Compliance

These transactions have led to a substantial reshuffling of the company's ownership structure. The company has duly reported these changes to the BSE, adhering to the SEBI (Prohibition of Insider Trading) Regulations, 2015.

It's worth noting that all these transactions were conducted through off-market deals, indicating pre-arranged transfers rather than open market operations. The reasons behind these significant shareholding changes have not been disclosed in the available information.

Investors and market watchers will likely be keen to observe how these ownership changes might influence the company's future direction and performance. Stakeholders are advised to keep an eye on further announcements from the company for any additional insights or strategic shifts that may result from these transactions.

Historical Stock Returns for Jattashankar Industries

1 Day5 Days1 Month6 Months1 Year5 Years
+0.40%+1.70%+10.62%+49.34%+569.33%+2,078.21%
Jattashankar Industries
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