Investor group buys 58.89% of India's SJ Corporation for $620,000
What's the deal? A group of four investors — Pintu Kanjibhai Kalavadia, Prashant Kanjibhai Kalvadia, Umang Kantilal Savani, and Kalpesh Patel — has completed the acquisition of a 58.89% stake in SJ CorporationDealroom has a profile for this one. Try Dealroom → (BSE:504398). The sellers were Savjibhai Dungarshibhai Patel and Ushaben Savjibhai Patel.
The terms: The buyers paid roughly US$801.2K in cash, valuing the shares at US$0.16 each. The full consideration went towards SJ Corporation's common equity.
Why now? The buyers signed a Share Purchase Agreement on January 30, 2026, and closed the deal on September 24, 2026. Along the way, Prashant K Kalavadia and Ushaben Savjibhai Patel completed acquisitions of 3.37% and 4.14% stakes, per a September 12, 2026 announcement.
What's the endgame? The group is also acquiring further stake in SJ Corporation through a tender offer and private placement, tightening its control of the BSE-listed company. The deal cleared the target's board.
The signal: The transaction hands a new investor group majority control of a listed Indian company for a modest sum, a reminder that even small-cap public companies can change hands through negotiated stake sales rather than full takeovers.
Image credit: Niyantha
