Jolly Plastic Industries Limited continues to advance through the regulatory process for Bhaum Digital Ventures Private Limited's open offer, with the Independent Directors Committee unanimously approving and publishing their recommendation on April 14, 2026, marking another crucial milestone in the acquisition process.

IDC Recommendation Approval and Publication

The Independent Directors Committee, comprising Rajesh Kumar Vaid (Chairman) and Parul Kumari (Member), unanimously approved the open offer terms and published their recommendation on April 14, 2026. The IDC assessed the ₹10 per share offer price as fair and reasonable under SEBI SAST Regulations, with both members providing their assent to the proposal.

The recommendation was published across multiple newspapers on April 14, 2026, in compliance with SEBI SAST Regulation 26(7):

Open Offer Parameters and Timeline

The open offer remains structured for Bhaum Digital Ventures to acquire 63,37,864 equity shares, representing 26.00% of the expanded equity capital. The offer timeline has been finalized with specific dates for the acquisition process:

Financial Structure and Regulatory Compliance

The offer maintains its original financial parameters with comprehensive regulatory backing. SEBI provided final observations on the Draft Letter of Offer through letter HO/49/12/11(33)2026-CFD-RAC-DCR1 dated March 27, 2026, which have been incorporated into the final documentation.

Post-Transaction Shareholding Impact

Upon completion of both the preferential allotment and open offer, assuming full acceptance, the shareholding structure will be significantly altered. Bhaum Digital Ventures will hold 2,40,37,864 shares representing 98.61% of the expanded capital, while public shareholders will retain 3,38,536 shares or 1.39% of the total 2,43,76,400 expanded equity shares.

The offer remains open for public shareholders from April 17, 2026, to April 30, 2026, with payment scheduled for May 15, 2026, subject to valid acceptance of tendered shares.

Jolly plastic industries Limited has submitted its quarterly dematerialization report to BSE Limited for the quarter ended March 31, 2026, in accordance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The report provides comprehensive details of physical share certificates processed for dematerialization during Q4FY26.

Regulatory Compliance and Submission

The company's Director, Atul Kumar Agarwal (DIN: 00022779), signed and submitted the compliance certificate on April 8, 2026. The submission was accompanied by confirmation from Skyline Financial Services Private Limited, the company's registrar and transfer agent, certifying that all processed securities have been properly listed and mutilated certificates have been cancelled within the prescribed 15-day timeframe.

CDSL Dematerialization Activity

During Q4FY26, the company processed dematerialization requests through CDSL covering the period from January 1, 2026, to March 31, 2026. The activity summary shows significant processing volumes across multiple shareholder accounts.

The CDSL processing involved shareholders including Ashok Jain, Babulal Khimraj Jain, Premlatha Surana, Aruna Arun Khinvasara, and others. Processing times ranged from 2 to 9 days, with most requests completed within a week of receipt.

NSDL Dematerialization Performance

The NSDL segment showed higher acceptance rates during the same period, processing requests from various individual and joint shareholders across different regions.

Notable shareholders in the NSDL processing included Radheshyam Rampratap Shah, Manoj Kumar Mahajan, Kulbir Singh, Ronish Dilip Morakhia, and Piyush Chinubhai Shah with Parul Piyush Shah as joint holder.

Overall Quarterly Performance

The combined dematerialization activity across both depositories demonstrates the company's active participation in facilitating electronic holding of shares for its investors.

The report confirms that all accepted dematerialization requests were processed within regulatory timelines, with processing periods ranging from 2 to 11 days. The company maintained proper documentation and verification procedures throughout the quarter, ensuring compliance with SEBI guidelines for depository operations.