JOJO Limited (formerly Madhuveer Com 18 Network Limited) has announced a strategic acquisition of the media and entertainment production business from its wholly owned subsidiary Navkar Events Private Limited. The Board of Directors approved this slump sale transaction on April 1, 2026, representing a significant internal restructuring initiative to consolidate operations under the listed entity.

Transaction Overview

The acquisition involves the purchase of Business Vertical-1, which encompasses media and entertainment production activities along with the JOJO digital platform. The transaction structure and key parameters are detailed below:

Target Company Profile

Navkar Events Private Limited, incorporated on July 3, 2014, operates in the media and entertainment production sector. The company's business encompasses films, web series, music videos, advertisements, OTT platform operations, intellectual property, and related assets, excluding the digital learning business segment.

Financial Performance

Navkar Events has demonstrated consistent revenue generation over the past three years:

Related Party Transaction Details

The transaction qualifies as a material related party transaction due to the following relationships:

• Common Leadership: Mr. Dhruvin Shah serves as promoter and director in both entities
• Ownership Structure: Navkar Events is a wholly owned subsidiary of JOJO Limited
• Shareholding: Mr. Dhruvin Shah holds 0.01% stake (1 share) in Navkar Events
• Subsidiary Control: JOJO Limited acquired 99.99% shareholding (9,999 shares) in Navkar Events

The company has confirmed that the transaction is conducted at arm's length basis and will require shareholders' approval under SEBI LODR Regulations and the Companies Act, 2013.

Strategic Rationale

The acquisition serves multiple strategic objectives for JOJO Limited's business consolidation:

• Operational Efficiency: Eliminates fragmentation between holding company and subsidiary operations
• Asset Control: Ensures JOJO platform, content rights, and intellectual property reside directly with the listed entity
• Financial Optimization: Converts existing loan exposure into direct business ownership without incremental cash outflow
• Compliance Streamlining: Reduces duplication of compliance and reporting requirements
• Value Chain Integration: Enables integrated production, distribution, and platform operations

The company emphasized that this internal restructuring aligns ownership, control, and economic benefits within the listed entity while strengthening its positioning as a digital-first media and content platform. Since acquiring Navkar Events shares in November 2023, JOJO Limited has provided significant financial support and driven strategic decision-making for the JOJO digital platform development.

Madhuveer com 18 network Limited has officially completed its corporate name change to JOJO Limited, marking a significant milestone in the company's rebranding journey. The name change became effective on March 17, 2026, following the necessary regulatory approvals and shareholder consent.

Regulatory Approval and Implementation

The company received the Certificate of Incorporation pursuant to change of name from the Registrar of Companies, Central Processing Centre on March 17, 2026. The name change was approved by both shareholders and the Central Registration Centre under the Ministry of Corporate Affairs, ensuring full compliance with regulatory requirements.

Strategic Vision Behind Rebranding

The new name reflects the company's evolving brand identity and continued focus on building a unified, forward-looking presence across its business segments. According to the company's announcement, the rebranding signifies a sharper alignment with its long-term vision of establishing a distinct and scalable integrated platform-led ecosystem.

The company operates across media, content, and technology-led initiatives, and the new identity is designed to support its strategic objectives in these sectors. The rebranding represents a move toward creating a more cohesive brand presence that can better serve its integrated business model.

Administrative Updates

JOJO Limited has committed to undertaking all necessary steps to update its name with relevant authorities and institutions. The company will coordinate with stock exchanges, depositories, and other statutory authorities to ensure seamless transition across all official records and documentation.

The announcement was signed by Managing Director Dhruvin Shah (DIN: 08801616), confirming the company's commitment to maintaining transparency with stakeholders throughout this transition process. The company has formally notified BSE Limited of the name change under Regulation 30 of SEBI LODR regulations, ensuring compliance with listing requirements.