Jetmall Spices & Masala is at the center of a significant ownership change as the Aggarwal family makes a strategic move to acquire a substantial stake in the company.

Open Offer Details

Raman Aggarwal, Anju Aggarwal, and Shrey Aggarwal have announced an open offer to acquire up to 15,60,000 equity shares of Jetmall Spices & Masala, representing 26.03% of the voting share capital. The offer price is set at ₹12.50 per share, providing an opportunity for existing shareholders to tender their shares.

Recent Share Acquisition

Prior to the open offer, the Aggarwal family has already purchased a significant portion of Jetmall's equity. They acquired 12,04,300 equity shares, equivalent to a 20.10% stake, from the promoter seller at ₹11.00 per share. This transaction, valued at ₹1.32 crore, was executed through a share purchase agreement.

Offer Timeline and Recommendations

The tendering period for the open offer is scheduled to run from September 17, 2025, to September 30, 2025. Notably, the Committee of Independent Directors has reviewed the offer and deemed it fair and reasonable, recommending it to the shareholders.

Acquirers' Intentions

The Aggarwal family aims to secure a majority stake and take control of Jetmall's management. However, they have explicitly stated that they do not intend to delist the company, maintaining its presence on the stock exchange.

Corporate Actions and Capital Structure

In a significant development, Jetmall's board has approved two major corporate actions:

1. An increase in the authorized share capital to ₹22.00 crore, up from the previous ₹6.00 crore.
2. The issuance of 1.53 crore convertible warrants at ₹23.00 per warrant.

Both these actions are subject to shareholder approval.

Market Impact and Trading Information

Jetmall Spices & Masala is listed on the BSE SME platform with the ISIN INE0D9X01018. The company's shares are categorized as frequently traded, indicating active investor interest.

Compliance and Governance

It's worth noting that Jetmall has faced some compliance issues in the past. The company paid a penalty of ₹1.09 lakhs in November 2024 for non-compliance with Regulation 6(1) of SEBI (LODR) Regulations, 2015, for the quarter ended September 2024.

New Board Appointments

The company has recently strengthened its board with new appointments:

• Mr. Vivek Sethi as a Non-Executive & Independent Director
• Ms. Arti Chadha as a Non-Executive & Non-Independent Director
• Mr. Harpreet Singh as a Non-Executive & Independent Director

These appointments were made in the board meeting held on September 1, 2025.

As Jetmall Spices & Masala undergoes this potential ownership transition, shareholders and market observers will be keenly watching the outcome of the open offer and its implications for the company's future direction.

Jetmall Spices & Masala Limited , a player in the spices and masala industry, has announced several significant decisions following its Board of Directors meeting held on September 5, 2025. The company has made these announcements in compliance with SEBI regulations.

Annual General Meeting and E-voting

The company has scheduled its 13th Annual General Meeting (AGM) to be conducted through video conferencing. The cut-off date for shareholder e-voting eligibility has been set for September 23, 2025. To ensure a fair and transparent voting process, Mr. Nishant Jain (COP: 27747), a Practicing Company Secretary, has been appointed as the Scrutinizer. Central Depository Services (India) Limited will serve as the e-voting agency for both remote e-voting and e-voting during the AGM.

New Director Appointment

The Board has appointed Mr. Shrey Aggarwal (DIN: 08193099) as an Additional Director (Whole Time Director) of the company. Mr. Aggarwal's appointment, effective from September 5, 2025, is for a term of three years, subject to shareholder approval at the upcoming AGM.

Mr. Aggarwal holds a Bachelor's degree in Law from Punjab University and has over a decade of experience in the outsourcing industry. His expertise lies in delivering legal, accounting, and data support outsourcing services globally, aiming to help businesses achieve their goals.

Registered Office Relocation

The Board has approved the shifting of the company's registered office from one state to another. The specific details of the new location were not disclosed.

Internal Auditor Appointment

Anmol S Kumar & Associates, Chartered Accountants, have been appointed as the Internal Auditor for the Financial Year 2025-26. The firm, with registration number 040948N and CA Anmol as its proprietor (Membership No. 562677), brings experience in conducting internal audits for various clients.

Other Approvals

The Board has also approved the Board's Report, Management Analysis, and Review Report for the year ended March 31, 2025.

The meeting of the Board of Directors commenced at 10:00 a.m. (IST) and concluded at 11:15 a.m. (IST) on September 5, 2025.

These decisions reflect Jetmall Spices & Masala Limited's commitment to corporate governance and its efforts to strengthen its leadership team. The appointment of Mr. Shrey Aggarwal and the planned office relocation could potentially bring new perspectives and operational efficiencies to the company.