Jinesh Kanaiyalal Pandav, along with Persons Acting in Concert (PACs), has acquired a substantial stake of 74.40% in Shantai Industries Limited. This acquisition, totaling 55,80,000 equity shares, was completed on August 17, 2026, through an off-market transaction. The total equity share capital of Shantai Industries Limited comprises 75,00,000 equity shares of Rs. 2/- each.
Significant Shareholding Change at Shantai Industries Limited
Jinesh Kanaiyalal Pandav, identified as the acquirer, has successfully completed the acquisition of a substantial majority stake in Shantai Industries Limited. The transaction, which occurred on August 17, 2026, involved the acquisition of 55,80,000 equity shares, representing a significant 74.40% of the total shareholding and voting capital of the target company.
Acquisition Details
The acquisition was executed through an off-market transaction, specifically a Share Purchase Agreement. Prior to this acquisition, the acquirer and their Persons Acting in Concert (PACs) held no shares in Shantai Industries Limited, indicating a complete change in control. The total equity share capital of Shantai Industries Limited before and after the acquisition remains 75,00,000 Equity Shares of Rs. 2/- each.
Key Stakeholders in the Acquisition
The acquirer, Jinesh Kanaiyalal Pandav, is acting in concert with several entities and individuals. These include: Radhe Dhokla Private Limited, which acquired 49,80,000 shares (66.40%); Dishant Kanubhai Pandav, acquiring 75,000 shares (1.00%); Nikunj Vijaybhai Prajapati, acquiring 75,000 shares (1.00%); Jinesh Kanaiyalal Pandav himself, acquiring 3,75,000 shares (5.00%); and Pradipkumar Vijaybhai Pandav, acquiring 75,000 shares (1.00%). The collective shareholding amounts to 55,80,000 shares, constituting 74.40% of the total voting capital.
Source: BSE
