SMCV Management Services Acquires 20.82% Stake in Bijoy Hans Limited Through Preferential Allotment

SMCV Management Services Private Limited has disclosed its acquisition of a significant stake in Bijoy Hans Limited through preferential allotment of equity shares. The acquisition, completed on March 04, 2026, marks SMCV Management Services' entry as a promoter in the target company. Acquisition Details SMCV Management Services acquired 99,98,879 equity shares of Bijoy Hans Limited, representing a 20.82% stake in the company. The acquisition was executed through preferential allotment under Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. Parameter Details Shares Acquired 99,98,879 Acquisition Percentage 20.82% Mode of Acquisition Preferential Allotment Date of Allotment March 04, 2026 The newly allotted equity shares rank pari passu with existing equity shares of Bijoy Hans Limited. Following this acquisition, SMCV Management Services Private Limited became a promoter of the target company. Impact on Share Capital Structure The preferential allotment resulted in a substantial expansion of Bijoy Hans Limited's equity share capital. The company's share capital increased from Rs. 7,50,00,210 divided into 75,00,021 equity shares to Rs. 48,02,18,570 divided into 4,80,21,857 equity shares of Rs. 10 each. Capital Structure Before Acquisition After Acquisition Share Capital (Rs.) 7,50,00,210 48,02,18,570 Number of Shares 75,00,021 4,80,21,857 Face Value per Share Rs. 10 Rs. 10 Promoter Group Holdings The acquisition significantly altered the promoter group's shareholding pattern in Bijoy Hans Limited. Before the acquisition, the promoter group collectively held 47,04,800 shares representing 62.73% of the company. Post-acquisition, the total promoter group holding stands at 1,47,03,679 shares, representing 30.62% of the expanded share capital. Shareholding Pattern Before Acquisition After Acquisition Total Promoter Shares 47,04,800 1,47,03,679 Promoter Group % 62.73% 30.62% SMCV Management Services % 0.00% 20.82% The promoter group includes Kaushal Uttam Shah, U.G. Patwardhan Services Pvt. Ltd., Agri One India Ventures LLP, Shantanu Jagannath Surpure, and members of the Patawari family, along with the newly inducted SMCV Management Services Private Limited. Regulatory Compliance The disclosure was made pursuant to Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Bijoy Hans Limited's shares are listed on BSE Limited (Scrip Code: 524723) and The Calcutta Stock Exchange Limited (Scrip Code: 012097). SMCV Management Services Private Limited, incorporated with CIN U70200PN2025PTC240082, has its registered office in Pune, Maharashtra. Bijoy Hans Limited announced that its Board of Directors has approved reclassification requests from four promoter group members during a meeting held on March 4, 2026. The decision addresses requests seeking reclassification from 'promoter and promoter group' category to 'public' category under SEBI regulations. Board Meeting Details The board meeting was conducted at the company's corporate office in Miraj, Maharashtra, from 3:00 PM to 5:00 PM on March 4, 2026. The meeting was held in compliance with Regulation 30 and 31A(8) of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Reclassification Requests The board considered and approved requests from four individuals seeking reclassification: Applicant: Current Status Requested Status Mr. Ashok Patwari Promoter Group Public Category Mr. Ashim Patwari Promoter Group Public Category Mrs. Sushila Devi Patwari Promoter Group Public Category Ms. Shweta Patwari Promoter Group Public Category All four individuals submitted their respective request letters dated February 23, 2026, which were formally communicated to BSE Limited on February 24, 2026. Current Status of Applicants The board noted several key factors regarding the applicants' current relationship with the company: None of the four individuals currently hold any equity shares in Bijoy Hans Limited They do not serve on the board of directors They hold no key managerial positions within the company They confirmed non-participation in company management in any capacity They have no special rights through formal or informal arrangements, including shareholder agreements Regulatory Compliance The board confirmed that all applicants satisfy the conditions specified in Regulation 31A(3)(b) of the SEBI Listing Regulations. The company noted that the intent for reclassification was already disclosed in the letter of offer issued by multiple acquirers under SEBI takeover regulations, making shareholder approval unnecessary in this case. Next Steps The reclassification approval remains subject to final approval from stock exchanges where Bijoy Hans Limited's equity shares are listed. The company will make necessary applications to BSE Limited and comply with provisions under Regulation 31A(8)(c) and 31A(8)(d) of the listing regulations. The board has authorized key management personnel, including Managing Director Mr. Kaushal Shah, Chief Financial Officer Mr. Ranganath Abhiram, and Company Secretary Mrs. Guinea Agrawal, to execute all necessary documentation and filings required for the reclassification process. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. 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