Jattashankar Industries is a listed company that has just undergone a complete reset. Founded in 1988 as a polyester yarn manufacturer, it spent over three decades in textiles before a new owner-management team took a 72.55% controlling stake in December 2024, sold the legacy factory, and redirected the entire enterprise toward agriculture, food commodities, and edible oils. The recurring approach is to use the company’s stock-exchange listing and clean balance sheet as a platform for an entirely new business, built around the new team’s experience in agri-commodity trading, processing, and branding. # Business segments A single engine in transition - a listed shell that has exited textiles and is being repurposed for agriculture and food commodities, with no operating business yet generating revenue. ## 1. Agri-commodity platform: a listed vehicle being rewired for food and agriculture **The company has sold its textile factory, changed its legal purpose, and installed a management team with deep agri-commodity experience - but as of the latest filings, it has no operating business and no reported segment revenue.** - **A clean slate by design** - shareholders approved the sale of the entire textile undertaking, including land, building, and machinery, and the plant was sold in the first quarter of FY25, so by the end of that year the company had discontinued all operations. - **Legal mandate rewritten** - the main object clause of the company’s charter has been amended to permit carrying on business in agriculture products, edible oils, food products, commodities, and allied goods, covering trading, manufacturing, processing, warehousing, and branding. - **Management, not just money** - the five new controlling shareholders and the newly appointed Managing Director, Whole Time Director, and Director all bring extensive experience in the agri-commodities industry, which is the practical engine for whatever operating business emerges next. - **No legacy drag** - the company has no subsidiaries, joint ventures, or associate companies, and the founding promoter group has sold its entire stake, leaving a structure with no legacy textile liabilities or related-party entanglements from the old business. # Group structure and partners **A standalone listed entity with no subsidiaries, controlled by five individual acquirers who bought out the founding family and intend to keep the company listed.** - **Complete ownership change** - five acquirers purchased 31,82,900 shares (72.55%) from the six selling members of the Poddar promoter group at Rs. 60 per share, for a total consideration of Rs. 19.09 crore, and the sellers now hold nil shares. - **Mandatory open offer** - the acquisition triggered an open offer to public shareholders for up to 26% of the capital at the same Rs. 60 per share, which if fully accepted would take the acquirers’ holding to 98.55%, though they have undertaken to restore the minimum public shareholding within the prescribed time to maintain the listing. - **New leadership installed** - Mr. Keval Jayanti Khudai is the new Managing Director, Mr. Nileshbhai Bhagvanji Bapodara is Managing Director, and Mr. Vishal Prakashbhai Ashara is Director, with a new CFO appointed in August 2025. - **Office relocation underway** - the registered office is proposed to shift from Mumbai to Pune for administrative efficiency and cost-effectiveness, while a corporate office already operates in Ahmedabad, Gujarat.