Jolly Plastic Industries Limited has received in-principle approval from BSE Limited for a preferential share allotment, marking a significant step in the company's capital raising initiative. The approval enables the company to issue equity shares to non-promoter investors at a predetermined price floor.

BSE Approval Details

BSE Limited granted its in-principle approval on March 09, 2026, through letter number LOD/PREF/DA/FIP/1832/2025-26. The approval covers the following key parameters:

The company formally communicated this development to BSE on March 13, 2026, through its Company Secretary and Compliance Officer, Sandhya Yadav.

Regulatory Compliance Requirements

BSE has outlined comprehensive compliance requirements that the company must fulfill during the allotment process. The exchange emphasized that this in-principle approval should not be construed as automatic listing approval, requiring separate compliance procedures.

Key regulatory frameworks that must be adhered to include:

• Companies Act, 2013
• Securities Contracts (Regulation) Act, 1956
• Securities and Exchange Board of India Act, 1992
• Depositories Act, 1996
• SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
• SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Internal Control Measures

BSE has specifically advised the company to strengthen internal controls to monitor trading activities by proposed allottees. The exchange has mandated specific undertakings from allottees to ensure regulatory compliance:

• Prohibition on intra-day trading in company scrip until allotment date
• Restriction on any sales in company scrip until allotment completion
• Company responsibility to verify compliance with SEBI ICDR Regulation 167(6)

The exchange has warned that any non-compliance observed post-allotment may impact the listing of the issued shares.

Post-Allotment Obligations

Following the share allotment, the company must fulfill several critical obligations within specified timeframes. As per SEBI circular SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023, the company must submit a listing application within twenty days from the allotment date.

The listing application must be accompanied by applicable fees and compliance with post-issue formalities as outlined in Regulation 14 of the LODR Regulations. BSE has reserved the right to withdraw the in-principle approval if any submitted information is found to be incomplete, incorrect, misleading, or in contravention of applicable regulations.

Strategic Implications

This preferential allotment represents a strategic capital raising initiative for Jolly Plastic Industries, allowing the company to bring in non-promoter investors while maintaining regulatory compliance. The approval provides the company with flexibility in pricing, subject to the minimum floor price of ₹10 per share, enabling optimal capital raising based on market conditions at the time of allotment.

Jolly Plastic Industries Limited has announced the voting results for its Extraordinary General Meeting (EGM) held on February 16, 2026. The company conducted remote e-voting on special resolutions related to regulatory compliance under SEBI ICDR regulations, with both resolutions receiving strong shareholder approval.

Meeting and Voting Details

The EGM was held on Monday, February 16, 2026, at 11:00 AM at the company's registered office in Ahmedabad. A corrigendum to the original EGM notice was issued on February 19, 2026, with the record date set as February 9, 2026. The company had 6241 total shareholders as on the record date.

Resolution Results

Both special resolutions presented to shareholders were passed with substantial majority support. The voting was conducted entirely through remote e-voting, with no physical poll conducted during the meeting.

Resolution 1: Price Re-computation Undertaking

The first resolution related to disclosure under Regulation 163(1)(g) of SEBI ICDR regulations, where the company undertook to re-compute the price of specified securities wherever required.

Resolution 2: Lock-in Provision Undertaking

The second resolution addressed disclosure under Regulation 163(1)(h) of SEBI ICDR regulations, with the company undertaking that equity shares allotted pursuant to preferential issue shall remain locked-in if re-computation amounts are not paid within stipulated time.

Voting Process and Scrutiny

The remote e-voting process was conducted through the www.evotingindia.com portal from February 20, 2026 (09:00 AM IST) to February 22, 2026 (05:00 PM IST). CA Sandeep Kumar Singh (Membership No. 511685) served as the appointed scrutinizer for the voting process.

The total votes polled represented 7.41% of the company's outstanding shares of 6676400. Notably, promoter and promoter group members did not participate in the voting process, with all votes coming from public non-institutional shareholders. The scrutinizer confirmed that all resolutions were passed with the requisite majority through the remote e-voting process.

Regulatory Compliance

The voting results were submitted to BSE Limited in compliance with Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Sandhya Yadav (M. No: A61470) signed the submission documents on February 23, 2026, ensuring timely regulatory compliance.