Shareholders Buckle Up! Jonjua’s Bonus Issue and Air Taxi Vision Set for Takeoff

As part of a string of strategic moves,  Overseas Limited and its group entity Jonjua Air Limited have announced significant corporate moves that will reorganize shareholders' value and their business. The Board of Jonjua Air Limited has decided to issue a 1:10 bonus issue, one bonus share for every ten held by each shareholder, subject to the regulatory approvals necessitated. Being the significant shareholder, Jonjua Overseas Limited will be entitled to its proportionate share of bonus shares, further strengthening its holding in the aviation business.

 

To facilitate this growth, Jonjua Overseas Limited's Board will meet on June 26, 2025, at 4:00 pm to approve raising its authorized share capital and altering its Memorandum of Association. Other items on the agenda include approving a bonus issue at the level of the holding company, adjusting related party transaction thresholds, and finalizing arrangements for a forthcoming shareholder meeting.

 

This comes after Jonjua Air's ambitious air taxi plan that aims to link India's remote and border regions from its base in Mohali, Punjab. Jonjua Overseas, as strategic advisor and investor, has played a crucial role in developing the project team for grant of an Air Operator Permit by the Directorate General of Civil Aviation (DGCA).

 

Key Highlights:

Air taxi service from Jonjua Air reaches unserved and underserved markets, and regulatory developments are underway.

 

Jonjua Overseas remains a zero-bank-debt company and is going on an aggressive expansion into aviation and agro-logistics industries. These changes usher in a new phase of expansion for both companies, with more value to their shareholders and more regional connectivity in India.

 

Source: DSIJ, The Economic Times, Marketscreener