Latest news about Sita Enterprises
Sita Enterprises
160.00
+4.50(+2.89%)
Company Performance:
View Company Insights1D+2.89%
1M-16.69%
6M+3.93%
1Y+7.17%
5Y+1,484.16%
More news about Sita Enterprises
08Nov 25
Sita Enterprises Reports Q2 Loss Amid Significant Corporate Changes
Sita Enterprises Limited reported a net loss of Rs 1.87 lakhs for Q2 ended September 30, compared to a profit of Rs 39.86 lakhs in the previous quarter. Total revenue decreased from Rs 137.68 lakhs to Rs 31.32 lakhs. The company underwent significant corporate restructuring, including a 70% ownership transfer to new promoter Jitendra Rasiklal Sanghavi, sale of shares in an associate company, and board restructuring with three new directors appointed. Despite the quarterly loss, total assets increased to Rs 2,012.37 lakhs, with investments at Rs 1,689.08 lakhs and improved cash position of Rs 130.61 lakhs.
03Nov 25
Sita Enterprises Limited Undergoes Major Promoter Shift: New Promoter Acquires 71.76% Stake
Sita Enterprises Limited reports a significant change in its promoter shareholding. Mr. Jitendra Rasiklal Sanghvi has become the new promoter, acquiring a 71.76% stake through purchase of 21,00,000 shares from previous promoters and 52,933 shares via an open offer. Previous promoters now hold 5% of shares, to be reclassified as public shareholding. The company will file its updated shareholding pattern for the September quarter. A board meeting is scheduled for November 7 to review Q2 financial results.
04Sept 25
Sita Enterprises Promoter Group Slashes Stake from 75% to 5% in Major Off-Market Deal
Sita Enterprises Limited's promoter group, led by Ashok Kumar Tulsyan, has reduced their stake from 75% to 5% through an off-market transaction of 21,00,000 shares. The sale, executed via a Share Purchase Agreement dated December 24, 2021, saw major sellers including Ashok Kumar Tulsyan, Ashok Tulsyan HUF, Saras Commerce LLP, and Bombay Mercantile & Leasing Company Limited significantly reduce or completely exit their positions. Despite this ownership shift, the company's equity share capital remains unchanged at Rs. 3 crore.
18Aug 25
Jitendra Rasiklal Sanghavi Acquires 71.76% Stake in Sita Enterprises Through Open Offer
Jitendra Rasiklal Sanghavi completed an open offer for Sita Enterprises, acquiring a 71.76% stake. The acquisition included 21,00,000 shares through a Share Purchase Agreement and 52,933 shares tendered during the open offer at Rs. 92.50 per share. The offer targeted 7,50,000 shares but received a low response of 0.07 times. Post-acquisition, Sanghavi holds 71.76%, erstwhile promoters 5%, and public shareholders 23.24%. The company remains compliant with minimum public shareholding requirements at 28.24%. The stock price rose from Rs. 163.60 to Rs. 194.30 during the offer period.
07Aug 25
Sita Enterprises Reports 76.8% Surge in Q1 Net Profit, Completes Open Offer
Sita Enterprises Limited, a non-deposit taking NBFC, reported a 76.8% year-over-year increase in net profit for Q1, reaching Rs 198.13 lakhs. Total income rose by 42.1% to Rs 213.76 lakhs. EPS improved to Rs 6.60 from Rs 3.74 in the previous year. The company completed an open offer following a share purchase agreement where Mr. Jitendra Rasiklal Sanghvi acquired 7% of the issued capital. Statutory auditors issued an unmodified opinion on the quarterly financial results.
07Aug 25
Jitendra Rasiklal Sanghavi Launches Open Offer for 25% Stake in Sita Enterprises at Rs. 92.50 Per Share
Mr. Jitendra Rasiklal Sanghavi has initiated an open offer to acquire up to 7,50,000 equity shares (25%) of Sita Enterprises at Rs. 92.50 per share. The offer includes a 10% interest provision for delayed payments. Navigant Corporate Advisors Limited is managing the process. The post-offer advertisement was published in three newspapers and submitted to BSE Limited in compliance with SEBI regulations.
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