Jolly Plastic Industries is set to witness a significant ownership change as Bhaum Digital Ventures Private Limited has announced a mandatory open offer to acquire up to 63,37,864 equity shares representing 26% of the company's expanded equity and voting share capital. The offer, priced at ₹10 per share and payable in cash, could result in a maximum consideration of ₹6.34 crores if fully accepted by public shareholders.

Transaction Details and Structure

The open offer has been triggered by a Share Purchase Agreement executed on January 21, 2026, between Bhaum Digital Ventures and Jolly Plastic Industries. Under this agreement, Jolly Plastic Industries will acquire all equity shares of Sahaj Retail Limited, a wholly-owned subsidiary of Bhaum Digital Ventures, for an aggregate consideration of ₹17.70 crores.

Open Offer Specifications

The mandatory open offer is being made in compliance with Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Sumedha Fiscal Services Limited has been appointed as the Manager to the Offer.

Post-Transaction Shareholding Structure

Upon completion of the preferential allotment, Bhaum Digital Ventures will hold 1,77,00,000 equity shares, representing 72.61% of the emerging equity and voting share capital of Jolly Plastic Industries. This will result in Bhaum Digital Ventures acquiring management and operational control of the target company and being classified as the promoter.

The expanded equity share capital of Jolly Plastic Industries will comprise 2,43,76,400 equity shares of ₹10 each, totaling ₹24.38 crores. The existing promoters have indicated their intention to seek reclassification as public shareholders in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations.

Regulatory Compliance and Timeline

The transaction is subject to approval by the members of Jolly Plastic Industries and other regulatory approvals, including Stock Exchange in-principle approval. The equity shares of the target company, which were suspended due to non-payment of annual listing fees in January 2015, have been revoked by BSE Limited effective January 30, 2025, and are now freely traded on the BSE platform.

The offer price has been determined in accordance with Regulation 8(2)(e) of the SEBI (SAST) Regulations, 2011. A Detailed Public Statement will be published within five working days of the public announcement, by January 29, 2026, containing comprehensive details of the offer terms and conditions.

Company Information

Jolly Plastic Industries Limited is listed on BSE Limited with scrip code 507968 and symbol JOLYPLS. The company's registered office is located at 426, 4th Floor, Patel Avenue, Near Gurudwara, S.G Road, Bodakdev, Ahmedabad-380054, Gujarat. Bhaum Digital Ventures intends to retain the listing status of the target company, and no delisting offer is proposed.

Jolly Plastic Industries Limited has announced a board meeting scheduled for January 21, 2026, to deliberate on significant corporate developments including acquisition plans and preferential equity share issues. The meeting represents a crucial step in the company's strategic expansion plans.

Meeting Details and Venue

The board meeting will be conducted on Wednesday, January 21, 2026, at the company's corporate office located at S-524, F/F, School Block, Vikas Marg, Shakarpur, Delhi-110092. The announcement was made on January 16, 2026, in compliance with Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Agenda Items

The board will consider and approve several important matters during the meeting:

Strategic Implications

The proposed acquisition and subsequent preferential equity share issues indicate the company's strategic focus on growth through acquisitions. The share-to-share acquisition structure suggests a structured approach to the transaction, with preferential equity shares being issued as part of the acquisition consideration.

Company Information

Jolly Plastic Industries Limited operates with its registered office at 426, 4th floor, Patel Avenue, Near Gurudwara, SG Road, Bodakdev, Ahmedabad-380054. The company is listed on BSE with scrip code 507968 and ISIN INE289M01016. The announcement was signed by Sandhya Yadav, Company Secretary and Compliance Officer.

Regulatory Compliance

The timely intimation to BSE Limited demonstrates the company's adherence to regulatory requirements under SEBI listing regulations. The formal notification ensures transparency and keeps stakeholders informed about significant corporate actions that may impact the company's business operations and shareholding structure.