Description

BSE notifies opening of an open offer by M/s. Bhaum Digital Ventures Private Limited to acquire up to 26% of Jolly Plastic Industries Limited at Rs. 10/- per share, open from April 17 to April 30, 2026.

Summary

BSE has announced the opening of an Offer to Buy – Acquisition Window under the Takeover mechanism for Jolly Plastic Industries Limited (JPIL). M/s. Bhaum Digital Ventures Private Limited (Acquirer) is making an open offer to public shareholders of JPIL to acquire up to 63,37,864 equity shares representing 26% of the Expanded Equity and Voting Share Capital at a price of Rs. 10/- per share, totalling Rs. 6,33,78,640/-. The offer is being made pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and involves a change in control and management of the Target Company.

Key Points

  • Acquirer: M/s. Bhaum Digital Ventures Private Limited
  • Target Company: Jolly Plastic Industries Limited (JPIL)
  • Offer Price: Rs. 10/- (Rupees Ten Only) per equity share, payable in cash
  • Shares Offered to Acquire: 63,37,864 equity shares (26% of Expanded Equity and Voting Share Capital)
  • Total Offer Size: Rs. 6,33,78,640/- (Rupees Six Crore Thirty Three Lakh Seventy Eight Thousand Six Hundred Forty Only)
  • Face Value: Rs. 10/- per equity share
  • Offer involves substantial acquisition of shares/voting rights along with change in control and management
  • Letter of Offer is attached to the BSE notice
  • Offer details are available on BSE Website: www.bseindia.com

Regulatory Changes

No new regulatory changes are introduced. The offer is being conducted under the existing framework established by:

  • SEBI circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015
  • SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated December 09, 2016
  • BSE notice no. 20170210-16 dated February 10, 2017
  • BSE notice no. 20190424-35 dated April 24, 2019
  • BSE notice no. 20200528-32 dated May 28, 2020
  • BSE notice no. 20201102-43 dated November 02, 2020
  • BSE notice no. 20210825-62 dated August 25, 2021
  • SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 – Regulations 3(1) & 4

Compliance Requirements

  • Trading Members and Custodians must take note of the Acquisition Window opening and facilitate participation by eligible public shareholders of JPIL
  • All market participants must comply with the Revised Guidelines of SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated December 09, 2016 and Exchange notice no. 20170210-16 dated February 10, 2017 and 20190424-35 dated April 24, 2019
  • Public shareholders of JPIL wishing to tender shares must do so through the BSE Acquisition Window mechanism within the stipulated offer period

Important Dates

  • Notice Date: April 15, 2026
  • Offer Opening Date: Friday, April 17, 2026
  • Offer Closing Date: Thursday, April 30, 2026

Impact Assessment

This open offer directly impacts public shareholders of Jolly Plastic Industries Limited, who have the opportunity to tender their shares at Rs. 10/- per equity share during the acquisition window (April 17–30, 2026). The offer represents a change in control and management of JPIL, making it significant for existing investors. Trading members and custodians are required to facilitate the tendering process through the BSE stock exchange mechanism. The offer size of 26% of expanded capital at a total value of approximately Rs. 6.34 crore is relatively modest in scale but carries high significance due to the change-of-control implications for the target company.

Impact Justification

Takeover open offer with change of control and management of the target company; directly affects public shareholders of Jolly Plastic Industries Limited with a defined acquisition window and mandatory compliance obligations for trading members and custodians.