JOJO Ltd Seeks Shareholder Approval for Slump Sale Acquisition of Media Vertical and Director Reappointment

JOJO Ltd Seeks Shareholder Approval for Slump Sale Acquisition of Media Vertical and Director Reappointment​

JOJO Ltd, formerly known as Madhuveer Com 18 Network Limited, has initiated the process of seeking shareholder approval through a Postal Ballot for two key corporate actions: the acquisition of its media and entertainment production business and the re-appointment of a director. The company confirmed that the voting process is available remotely via e-voting services.

Acquisition of Media and Entertainment Platform​

The primary proposal involves the acquisition of the Media and Entertainment Production Business, Business Vertical-1, including the JOJO Platform. This business segment is being acquired from Navkar Events Private Limited (NEPL), a wholly owned subsidiary and related party of JOJO Ltd, through a slump sale as a going concern under Section 50B of the Income-tax Act, 1961.

The transaction is set to be completed based on the terms outlined in a Business Transfer Agreement dated 31st March, 2026.

Details of the proposed transaction and valuation are summarized below:


The Board of Directors noted that the proposed acquisition is a material related party transaction. The transaction aims to consolidate the entire Business Vertical-1, including the JOJO platform, under the listed entity. This move is designed to align ownership, control, and economic interest within JOJO Ltd, eliminating structural inefficiencies and consolidating intellectual property rights, thereby enabling the company to function as a fully integrated digital media platform.

Reappointment of Independent Director​

In addition to the asset acquisition, the Postal Ballot notice seeks shareholder approval for the re-appointment of Mr. Dipankar bhuvneshwar Mahto (DIN: 08730286) as an Independent Director of the Company for a period of three years.

Mr. Dipankar Mahto is qualified to be appointed as an Independent Director, and the Board of Directors recommended passing this resolution.

E-Voting Details and Timeline​

The exercise of voting rights on both resolutions must be done through remote e-voting services. Shareholders are advised to note the following timeline:


The voting rights of members will be determined by their shares held as of the cut-off date. The results of the Postal Ballot will be announced on or before May 25, 2026, and displayed on the company's website and the NSDL e-voting portal.

Stock Price Movement​

At the close of trade today, JOJO Ltd shares settled at ₹241.20, finishing down 0.80% for the day. The stock traded within a significant range, hitting a day's low of ₹241.15 but reaching an intraday high of ₹246.00.