Sumedha Fiscal Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of Jolly Plastic Industries Ltd ("Target Company").
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Bhaum Digital Ventures Private Limited has submitted a Letter of Offer to acquire up to 63,37,864 equity shares (26% of expanded equity) of Jolly Plastic Industries Ltd at ₹10 per share, aggregating to ₹6.33 crore. This mandatory open offer is triggered under SEBI (SAST) Regulations following a Share Purchase Agreement dated January 21, 2026, where Jolly Plastic agreed to acquire 100% of Sahaj Retail Limited (SRL) from the Acquirer for ₹17.70 crore. As consideration discharge, Jolly Plastic issued 1.77 crore equity shares to the Acquirer via preferential allotment, resulting in the Acquirer holding 72.61% stake. Upon completion of both the preferential allotment and the open offer, the Acquirer will hold approximately 98.61% of the expanded equity, causing public shareholding to fall below the required minimum. The offer opens on April 17, 2026 and closes on April 30, 2026.
This is a controlling stake acquisition. Existing public shareholders who tender their shares will receive ₹10 per share. The Acquirer will gain majority control, and the company may need to take steps to restore minimum public shareholding to comply with SCRR regulations.