Jetmall Spices & Masala Reports No Deviation in Preferential Issue Fund Utilization for Q4 FY26

1 min read     Updated on 07 Apr 2026, 01:49 PM
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AI Summary

Jetmall Spices & Masala Limited reported no deviation in fund utilization from its ₹35.49 crore preferential issue during Q4 FY26. The company received ₹26.62 crore as upfront consideration and utilized ₹6.90 crore across working capital and technology development activities as per original objectives, with Audit Committee approval and full regulatory compliance.

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Jetmall Spices & Masala Limited has filed its quarterly compliance report with BSE Limited, confirming no deviation in the utilization of funds raised through its preferential issue during the quarter ended March 31, 2026. The statement was submitted in accordance with Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Fund Raising Details

The company completed its preferential issue through convertible warrants on February 06, 2026, with the following structure:

Parameter Details
Total Issue Size ₹35,48,88,000.00
Upfront Amount Received ₹26,61,60,000.00 (75% of issue size)
Balance Amount 25% to be received upon warrant conversion
Conversion Period 18 months from allotment date

Fund Utilization Breakdown

The company allocated the received funds across three primary objectives, with actual utilization during Q4 FY26 as follows:

Original Object Original Allocation Funds Utilized Deviation
Working Capital for ADR and Related Services ₹6,11,60,000.00 ₹1,46,80,864.27 NIL
Sales and Marketing Activities ₹11,00,00,000.00 NIL NIL
Investment/Capex in Technology Development ₹9,50,00,000.00 ₹5,43,15,349.97 NIL
Total ₹26,61,60,000.00 ₹6,89,96,214.24 NIL

Compliance and Oversight

The fund utilization statement has been reviewed by the company's Audit Committee, with no adverse comments recorded. The company confirmed that no monitoring agency oversight was required for this fund raising exercise. The report covers the period from January to March 2026, representing Q4 of FY 2025-26.

Key Highlights

  • No deviation from originally stated fund utilization objectives
  • Technology development activities received the highest fund allocation during the quarter
  • Sales and marketing activities had no fund utilization during the reporting period
  • Audit Committee reviewed and approved the fund utilization without concerns

The company's Manager and Whole-time Key Managerial Personnel, Unni Krishnan Nair, signed the compliance document on April 07, 2026, confirming adherence to all regulatory requirements under SEBI guidelines.

What specific technology developments is Jetmall Spices & Masala investing in with the ₹5.43 crore allocation, and how will these enhance their competitive position in the spices market?

Why did the company not utilize any funds for sales and marketing activities during Q4 FY26, and when do they plan to deploy the allocated ₹11 crore for market expansion?

With 18 months remaining for warrant conversion, what factors will influence investors' decision to convert, and how might this impact the company's capital structure?

Jetmall Spices Publishes Postal Ballot Notice for Name Change to Artemis ADR

2 min read     Updated on 03 Apr 2026, 08:33 PM
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Radhika SScanX News Team
AI Summary

Jetmall Spices and Masala Limited has completed regulatory compliance by publishing its postal ballot notice in The Pioneer and Dainik Savera Times newspapers on April 03, 2026. The company seeks shareholder approval for changing its name to Artemis ADR Marketplace Limited through e-voting scheduled from April 03 to May 02, 2026, with results expected by May 04, 2026.

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Jetmall Spices & Masala Limited has issued a postal ballot notice seeking shareholder approval for a proposed name change to Artemis ADR Marketplace Limited. The company has fulfilled regulatory requirements by publishing the notice in newspapers on April 03, 2026, as mandated under SEBI Listing Regulations.

Regulatory Compliance and Publication

The company has completed the mandatory newspaper publication requirement for the postal ballot notice. The notice was published on April 03, 2026, in two newspapers to ensure wide dissemination:

Publication Details: Information
English Newspaper: The Pioneer
Hindi Newspaper: Dainik Savera Times
Publication Date: April 03, 2026
Regulatory Requirement: SEBI Listing Regulations

The company has informed BSE Limited about the newspaper publication and submitted copies of the newspaper clippings for record-keeping purposes.

E-Voting Schedule and Process

The company has established a comprehensive e-voting framework to facilitate shareholder participation. The voting process will be conducted entirely through electronic means, with no physical postal ballot forms being distributed to members.

Parameter: Details
Cut-off Date: Friday, March 27, 2026
E-voting Start: Friday, April 03, 2026 at 9:00 AM (IST)
E-voting End: Saturday, May 02, 2026 at 5:00 PM (IST)
Results Announcement: On or before Monday, May 04, 2026

The company has engaged Central Depository Services (India) Limited (CDSL) to provide the e-voting facility, ensuring a secure and transparent voting process for all eligible shareholders.

Proposed Name Change Details

The special resolution seeks approval to change the company name from "Jetmall Spices and Masala Limited" to "Artemis ADR Marketplace Limited." This change reflects the company's strategic shift in business focus and operational direction.

Key aspects of the proposed change include:

  • Current Name: Jetmall Spices and Masala Limited
  • Proposed Name: Artemis ADR Marketplace Limited
  • Regulatory Approval: Name reservation letter received on March 27, 2026
  • Authority: Central Registration Centre, Ministry of Corporate Affairs

Scrutinizer Appointment and Oversight

CS Nishant Jain (CP No. 27747), Practicing Company Secretary from M/s Nishant Jain & Associates, has been appointed as the scrutinizer for conducting the postal ballot process. The scrutinizer will ensure fair and transparent conduct of the e-voting process and submit a detailed report upon completion.

Shareholder Participation Requirements

Only members whose names appear in the Register of Members or Register of Beneficial Owners as of the cut-off date of March 27, 2026, will be eligible to participate in the voting process. The company has made arrangements for shareholders holding securities in both demat and physical form to participate through the CDSL e-voting platform.

The resolution requires approval by special resolution, and if passed with the requisite majority, will be deemed effective from Saturday, May 02, 2026. The company will subsequently file necessary applications with regulatory authorities including the BSE Limited and the Registrar of Companies for implementing the name change.

What specific business activities will Artemis ADR Marketplace Limited engage in following the strategic shift away from spices and masala trading?

How might this name change impact the company's stock performance and investor perception in the marketplace sector?

Will the company need to restructure its operations, workforce, or supply chain to align with the new ADR marketplace business model?

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