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

































