The Meeting of shareholders of the Company is scheduled to be held on 16th February 2026 at 11:00 AM, at the registered office of the Company, inter-alia to consider and approve the matters ....
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Jolly Plastic Industries has called an Extraordinary General Meeting (EGM) on 16 February 2026 to seek shareholder approval for three key items: (1) increasing the authorized share capital from Rs. 12 crore to Rs. 27 crore to accommodate new equity shares, (2) adopting the new e-Articles of Association format, and (3) issuing 1,77,00,000 equity shares at Rs. 10 each (nil premium) on a preferential basis to Bhaum Digital Ventures Pvt Ltd (BDVPL) via a share swap. The swap ratio is 354 shares of Jolly Plastic for every 10 shares of Sahaj Retail Limited, with Jolly Plastic acquiring 100% of Sahaj Retail (a wholly owned subsidiary of BDVPL) that operates the 'Sahaj Mitr' franchisee network delivering retail, financial inclusion, and e-governance services in rural and semi-urban India. Post-allotment, BDVPL will hold 72.61% of the expanded share capital and reclassify as promoter, triggering an open offer obligation under SEBI takeover regulations.
This is a transformative deal that changes control of the company — BDVPL will become the new promoter with a 72.61% stake, leading to massive dilution for existing shareholders. The business focus will shift from plastics to digital retail, financial inclusion, and e-governance services. An open offer will be triggered, providing existing shareholders a potential exit opportunity at a SEBI-determined price. Expect significant volatility and scrutiny on the swap valuation and floor price.