Jolly Plastic Industries Limited has received a detailed public statement regarding an open offer announced by Bhaum Digital Ventures Private Limited. The mandatory offer aims to acquire a significant stake in the plastic manufacturing company through a structured acquisition process.

Open Offer Details

Bhaum Digital Ventures Private Limited has announced an open offer to acquire equity shares of Jolly Plastic Industries Limited under the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The offer represents a strategic move to gain control of the target company through regulatory compliance.

Transaction Background

The open offer is triggered pursuant to a Share Purchase Agreement dated January 21, 2026, between Bhaum Digital Ventures and Jolly Plastic Industries. Under this agreement, the target company will acquire all equity shares of Sahaj Retail Limited from the acquirer.

Company Information

Acquirer Profile: Bhaum Digital Ventures Private Limited is incorporated under CIN U51909WB2011PTC169629, with its registered office located at 3, Middle Road, Hastings, Kolkata, West Bengal. The company operates in telecommunications and digital services, focusing on e-governance projects and rural service delivery.

Target Company Profile: Jolly Plastic Industries Limited (CIN: L70100GJ1981PLC004932) was originally incorporated as a private limited company in 1981 and converted to public limited status in 1985. The company is engaged in trading business with a wide range of products distributed nationally.

Financial Performance

Acquirer's Financial Data (₹ in Lakhs):

Target Company's Financial Data (₹ in Lakhs):

Share Capital Structure

The target company's current issued and paid-up equity share capital stands at ₹6,67,64,000 comprising 66,76,400 equity shares of ₹10 face value each. Post the preferential allotment, the expanded voting share capital will be ₹24,37,64,000 divided into 2,43,76,400 equity shares.

Offer Implementation

Sumedha Fiscal Services Limited has been appointed as the Manager to the Offer, while Skyline Financial Services Private Limited serves as the Registrar. The offer will be implemented through BSE Limited as the designated stock exchange using the acquisition window mechanism.

Key Dates:

The acquirer has deposited ₹1,60,00,000 in an escrow account with Kotak Mahindra Bank Limited, representing more than 25% of the offer consideration as required under regulations. The offer is not conditional upon any minimum level of acceptance and aims to retain the listing status of the target company.

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.