Outcome of Board Meeting held on Wednesday, 21st January 2026, to inter-alia consider and approve the items as per agenda of Board Meeting.
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Jolly Plastic Industries' board approved acquiring 100% of Sahaj Retail Limited (a wholly owned subsidiary of Bhaum Digital Ventures Pvt Ltd - BDVPL) through a Share Purchase Agreement signed on 21 January 2026. The deal is structured as a share swap, with Jolly Plastic issuing 1,77,00,000 equity shares at ₹10 each (nil premium) to BDVPL, aggregating to ₹17.70 crore. Post-allotment, BDVPL will hold 72.61% of the expanded equity share capital, making it the new promoter of the company. The board also approved increasing authorised share capital from ₹12 crore to ₹27 crore to accommodate the issuance. An Extra-Ordinary General Meeting has been scheduled for 16 February 2026 to seek shareholder approval.
This is a significant control change event - BDVPL will become the new promoter with 72.61% stake, triggering a mandatory Open Offer for public shareholders under SEBI takeover regulations. Existing shareholders will see substantial dilution but gain exposure to Sahaj Retail's business through the reverse merger-like structure.