Correction in Board Meeting Outcome uploaded on 7th May 2026 at 18:39. Revised Board Meeting Outcome is hereby attached.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
JOJO Ltd (formerly Madhuveer Com 18 Network Limited) has allotted 90 lakh fully paid-up equity shares of Rs.10 each to 8 allottees upon conversion of share warrants on a preferential basis. The conversion price was Rs.40 per warrant, with Rs.27 crore received as the balance 75% payment. The allottees include promoter group members (Dhruvin Shah, Dakesh Shah, Sheetal Shah, Samir Shah, Shweta Shah) and public category investors (Meet Kariya, Jay Kariya, Shlok Rathod). Following this conversion, all 1 crore warrants originally allotted on November 7, 2024, have been fully converted with zero outstanding warrants remaining. The company's paid-up capital increased from Rs.25.48 crore to Rs.34.48 crore.
Significant dilution for existing shareholders as promoter group holding increased from 54.42% to 67.38%, reducing public float. Completion of warrant conversion removes future share count uncertainty but increases supply of shares in the market.