News Orders & Deals Bhaum Digital Ventures Private Limited Announces Open Offer for Jolly Plastic Industries Limited SharesBhaum Digital Ventures Private Limited Announces Open Offer for Jolly Plastic Industries Limited Shares
Bhaum Digital Ventures Private Limited has announced a mandatory open offer to acquire 63,37,864 equity shares of Jolly Plastic Industries Limited at ₹10.00 per share, totaling ₹6,33,78,640. The offer represents 26.00% of expanded equity capital and will result in the acquirer holding 98.61% stake post-transaction. The tendering period runs from March 18 to April 6, 2026, with the transaction structured through preferential allotment and compliance with SEBI takeover regulations.
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Jolly Plastic Industries Limited is set to undergo a significant ownership change as Bhaum Digital Ventures Private Limited announces a mandatory open offer to acquire a substantial stake in the company. The acquirer has launched this offer in compliance with SEBI regulations following a strategic share purchase agreement that will result in a change of control and management.
Open Offer Details
The open offer encompasses the acquisition of 63,37,864 equity shares, representing 26.00% of the expanded equity and voting share capital of Jolly Plastic Industries Limited. The offer has been structured with specific financial parameters and regulatory compliance measures.
| Parameter: | Details |
|---|---|
| Offer Size: | 63,37,864 equity shares |
| Offer Price: | ₹10.00 per equity share |
| Total Consideration: | ₹6,33,78,640 |
| Face Value: | ₹10.00 per share |
| Percentage of Capital: | 26.00% of expanded equity |
Transaction Structure and Timeline
The open offer is being made pursuant to Regulations 3(1) & 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 2011. This mandatory offer follows a Share Purchase Agreement dated January 21, 2026, between the parties involved.
| Activity: | Date | Day |
|---|---|---|
| Public Announcement: | January 21, 2026 | Wednesday |
| Detailed Public Statement: | January 29, 2026 | Thursday |
| Tendering Period Opens: | March 18, 2026 | Wednesday |
| Tendering Period Closes: | April 6, 2026 | Monday |
| Payment of Consideration: | April 21, 2026 | Tuesday |
Share Capital Structure
The transaction involves a complex restructuring of the target company's share capital through a preferential allotment mechanism. The current equity structure will be significantly expanded to accommodate the new shareholding pattern.
| Capital Component: | Number of Shares | Nominal Value (₹) |
|---|---|---|
| Existing Equity Capital: | 66,76,400 | 6,67,64,000 |
| Proposed Preferential Allotment: | 1,77,00,000 | 17,70,00,000 |
| Post-Allotment Total: | 2,43,76,400 | 24,37,64,000 |
Post-Transaction Shareholding
Upon completion of the open offer and preferential allotment, assuming full acceptance, Bhaum Digital Ventures Private Limited will hold a controlling stake in Jolly Plastic Industries Limited. The existing promoters have expressed their intent to seek reclassification as public shareholders.
| Shareholder Category: | Current Shares | Post-Transaction Shares | Percentage |
|---|---|---|---|
| Bhaum Digital Ventures: | Nil | 2,40,37,864 | 98.61% |
| Public Shareholders: | 66,73,400 | 3,35,536 | 1.38% |
| Existing Promoters (Reclassified): | 3,000 | 3,000 | 0.01% |
Regulatory Compliance and Approvals
The acquirer has deposited ₹1,60,00,000 in an escrow account, representing more than 25% of the total offer consideration as required under Regulation 17 of SEBI (SAST) Regulations. The offer is not subject to minimum acceptance levels and is unconditional under Regulation 19 of the SEBI (SAST) Regulations.
Sumedha Fiscal Services Limited has been appointed as the Manager to the Offer, while Skyline Financial Services Private Limited serves as the Registrar to the Offer. The offer is not a competing offer and no competing offers exist as of the draft letter date.
Key Terms and Conditions
Public shareholders who accept the offer by tendering their shares will not be entitled to withdraw their acceptance during the tendering period. The offer is subject to statutory approvals that may become applicable, and shares once tendered cannot be withdrawn even in case of delays in acceptance or payment.
The acquirer has confirmed that no differential pricing applies to this offer, and any upward revision in offer price would be communicated through public announcements. The transaction aims to create strategic and operational synergies between the entities involved, with the target company expected to benefit from the acquirer's digital infrastructure and market presence.
Historical Stock Returns for Jolly Plastic Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.04% | -16.63% | -42.30% | -86.16% | -86.85% | -87.50% |
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