Madhuveer com 18 network Limited has received regulatory approval for a proposed name change, marking a significant corporate development for the Ahmedabad-based company. The Ministry of Corporate Affairs has sanctioned the availability of a new corporate identity that will transform the company's branding and market presence.

MCA Approval Details

The Registrar of Companies, Central Registration Centre (CRC), Ministry of Corporate Affairs approved the availability of the name "JOJO LIMITED" on 31 January 2026. This approval represents the first step in the company's name change process, replacing the existing corporate identity of MADHUVEER COM 18 NETWORK LIMITED.

Regulatory Compliance Framework

The name change approval comes with specific regulatory conditions that the company must fulfill. The proposed name change is subject to compliance with the provisions of the Companies Act, 2013 and applicable rules made thereunder. The company has outlined a comprehensive approach to meet these regulatory requirements.

The approval carries a 60-day validity period from the date of approval, creating a defined timeline for the company to complete the necessary procedural steps. During this period, the company must secure various approvals and complete documentation processes to finalize the name change.

Shareholder Approval Process

The company has decided to obtain shareholder approval through postal ballot, ensuring broad stakeholder participation in this corporate decision. This approach allows shareholders to participate in the approval process without requiring physical attendance at a general meeting.

Key steps in the approval process include:

• Conducting postal ballot for shareholder approval
• Obtaining approvals from stock exchanges
• Securing clearances from other regulatory authorities
• Completing documentation with MCA

Corporate Communication

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's commitment to transparent corporate communication. Director Raj Shah signed the intimation letter, emphasizing the formal nature of this corporate development.

The company operates from its registered office in Ahmedabad and maintains its listing obligations through regular disclosures to BSE Limited. This name change represents a strategic corporate decision that will require careful execution within the prescribed regulatory timeline.

Madhuveer Com 18 Network Limited has reported significant revenue growth in its quarterly results and successfully completed the warrant conversion process with BSE trading approval.

Financial Performance

On a standalone basis, the company's revenue from operations surged to ₹135.76 crore, compared to nil in the corresponding quarter of the previous year. The total income rose by 424% to ₹136.28 crore. Net profit showed a robust growth of 65.2%, reaching ₹19.58 crore.

Consolidated results painted a more comprehensive picture of the company's performance:

While the consolidated results show a net loss of ₹50.69 crore, it represents a significant improvement from the ₹206.55 crore loss reported in the same quarter of the previous year.

BSE Trading Approval for Warrant Conversion

The company has received trading approval from BSE Limited for 10,00,000 equity shares issued through warrant conversion. The key details of the approved trading are:

The shares are now listed and available for trading on the BSE with effect from December 10, 2025, as confirmed by BSE's notice dated December 9, 2025.

Equity Warrant Allotment Details

The Board of Directors had previously approved the allotment of 10,00,000 equity warrants on a preferential basis as part of a larger conversion of 1,00,00,000 convertible equity warrants into equity shares. The warrant conversion details include:

• Allottee: Mr. Sagar Shah (Promoter Group)
• Number of warrants converted: 10,00,000
• Issue price: ₹40 per warrant (including a premium of ₹30)
• Amount received: ₹3,00,00,000 (being 75% of the issue price per warrant)

This conversion has led to a change in the promoter shareholding, which decreased from 28.80% to 23.19% following the warrant conversion.

Corporate Governance

The company continues to maintain regulatory compliance, having held its Board Meeting where the unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors. The statutory auditors have carried out a limited review of these results.

Madhuveer Com 18 Network Limited continues to comply with regulatory requirements, including the preparation of financial statements in accordance with Indian Accounting Standards (Ind AS) and adherence to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.