Sumedha Fiscal Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulation 3(1) and 4 read with Regulation 13, 14 and 15(1) and other applicable ....
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Bhaum Digital Ventures Private Limited (the Acquirer) has announced an Open Offer to buy up to 63,37,864 equity shares (26% of the expanded share capital) of Jolly Plastic Industries Ltd (JPIL) from public shareholders at Rs. 10 per share, aggregating to a maximum of Rs. 6.34 crore. The open offer is triggered by a Share Purchase Agreement dated January 21, 2026, under which JPIL is acquiring 100% of Sahaj Retail Limited (SRL) from Bhaum Digital Ventures at Rs. 354 per share for a total of Rs. 17.70 crore. As consideration, JPIL will issue 1,77,00,000 new equity shares at Rs. 10 each to the Acquirer, resulting in Bhaum Digital Ventures holding approximately 72.61% of the expanded equity and voting share capital. Post-transaction, Bhaum Digital Ventures will be classified as the new promoter of JPIL, while the existing promoters will seek reclassification as public. The share swap ratio is 354 shares of JPIL for every 10 shares of SRL. Notably, JPIL's shares were only recently reinstated on BSE trading (January 30, 2025) after a long suspension over unpaid listing fees.
This marks a complete change in control of Jolly Plastic Industries, with the acquirer becoming the new promoter. Public shareholders can tender their shares at the Rs. 10 offer price or choose to remain invested, but the open offer price may act as a floor or trigger short-term price action. The deal effectively reverses JPIL's identity by bringing in a new core business (Sahaj Retail) via a share swap, which could lead to a re-rating or heightened volatility given the company's small size and recent return to trading.