Technojet promoters sell 73.15% stake in 2026

Deal summary: change in control at Technojet Consultants

Promoters of Technojet Consultants have entered into a share purchase agreement (SPA) with Nimesh Sahadeo Singh to transfer a 73.15% stake in the company. The transaction was executed on September 18, 2026. It involves the sale of 1,46,293 equity shares for a cash consideration of ₹70,22,064 (₹70.22 lakh). The deal is positioned as a change in control, with Singh proposing to acquire substantial shares and assume promoter status.

Who is buying and what is being acquired

Under the SPA, the acquirer is Nimesh Sahadeo Singh. The stake being transferred is stated as 73.15% of Technojet Consultants, corresponding to 1,46,293 equity shares. The consideration disclosed for the transaction is ₹70.22 lakh in cash. The announcement also notes that the acquisition triggers regulatory actions under India’s takeover framework.

Who are the sellers in the share purchase agreement

The sellers named in the disclosure include Nowrosjee Wadia and Sons Limited, Goodeed Charitable Foundation, Varnilam Investments and Trading Company Limited, Mr. Ness Nusli Wadia, MSIL Investments Private Limited, and Naperol Investments Limited. These entities and individuals are described as promoters who are transferring their combined holding under the SPA. The transaction therefore represents a promoter group exit from the controlling stake, subject to completion steps.

Consideration and share count: what the numbers indicate

The disclosed deal size is ₹70,22,064 (₹70.22 lakh) for 1,46,293 shares. The stake percentage provided is 73.15%, indicating that a majority holding is being transferred in one agreement. Because the stake is above takeover thresholds, the structure requires an open offer to public shareholders as per SEBI rules. The disclosure does not indicate any non-cash components, earn-outs, or deferred payments, and describes the consideration as cash.

Mandatory open offer under SEBI SAST Regulations

The agreement mandates that the acquirer will make an open offer to public shareholders in accordance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This is a standard requirement for acquisitions that result in a change in control or cross specified shareholding thresholds. The announcement frames the open offer as a next step that follows the SPA. Any subsequent change in the acquirer’s shareholding beyond the SPA block would be governed by the outcome of this open offer.

Promoter reclassification after completion

Upon successful completion of the transaction, the sellers intend to be reclassified as part of the public category. This reclassification is proposed under Regulation 31A (10) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure links this reclassification to completion of the acquisition and associated compliance processes. This indicates that the outgoing promoters do not plan to retain a promoter classification post-transaction.

What the company disclosed under SEBI LODR

The disclosure was made pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, read with Clause 5A of Para A of Part A of Schedule III. Technojet Consultants also confirmed that it is not a party to the SPA. The company stated that no restrictions or liabilities are imposed on the listed entity due to this agreement. The transaction is also stated to not be classified as a related-party transaction.

Shareholding pattern context before the announced transfer

The provided shareholding data shows promoter holding at 73.15% and public holding at 26.85% across multiple quarters, including up to June 2026. The article also states promoter holdings remained unchanged at 73.15% in the June 2026 quarter. Additional breakdown cited for June 2026 includes FIIs at 0.00%, DIIs at 0.00%, public at 22.62%, and others at 4.23%, alongside promoter holding of 73.15%. This context is important because the SPA covers the same 73.15% promoter stake that had been stable in earlier reported periods.

Stock snapshot and listing details cited

The stock is referenced with BSE: 509917. The share price is stated at ₹99.54 at the close of the market, and the article also notes that as of September 16, 2026, the stock opened at ₹99.54 and had closed at ₹94.80 the previous day. The sector tag shown is “Pharmaceuticals and health care” and the company is described as a smallcap on BSE. These datapoints provide a market reference around the disclosure, without attributing the price move to the transaction.

Key facts table

Timeline of disclosed events and data points

Why the disclosure matters for public shareholders

A transfer of 73.15% is, by definition, a controlling stake transaction, and the disclosure explicitly frames it as a change in control. For public shareholders, the key procedural step is the open offer under SEBI SAST, which is designed to provide an exit opportunity at the offer terms that will be disclosed through the formal open offer process. The company’s clarification that it is not a party to the SPA and that no restrictions or liabilities are imposed on the listed entity narrows the transaction’s scope to shareholder-to-shareholder transfer and related regulatory steps.

Company background details cited in the report

Technojet Consultants Limited is described as a public limited company listed on the Bombay Stock Exchange and established in 1982. The corporate address shown is Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai, Maharashtra 400001. The company website cited is http://www.technojet.in. These details provide corporate identification alongside the shareholding and transaction disclosures.

Conclusion

Technojet Consultants’ promoters have agreed to sell their 73.15% stake to Nimesh Sahadeo Singh for ₹70.22 lakh via an SPA executed on September 18, 2026. The next confirmed step referenced in the disclosure is a mandatory open offer under SEBI SAST Regulations, followed by the proposed promoter reclassification under SEBI LODR provisions after completion.