Jetmall spices & masala Limited announced the successful allotment of warrants convertible into equity shares following a board meeting held on February 06, 2026. The Chennai-based spices and masala company completed a significant fundraising exercise through the preferential allotment route, strengthening its capital base with institutional investment.

Warrant Allotment Details

The board of directors approved the allotment of 98,58,000 warrants to Bridge India Fund, a non-promoter investor. The warrants carry an issue price of ₹36 per warrant, representing a total consideration of ₹35,48,88,000. Each warrant is convertible into one fully paid-up equity share having a face value of ₹10.

Payment Structure and Timeline

The warrant allotment follows a structured payment mechanism designed to ensure committed investment. The company received ₹26,61,66,000 as upfront consideration, representing 75% of the total warrant subscription price at ₹27 per warrant. The remaining ₹9 per warrant will be payable upon conversion of the warrants into equity shares.

Regulatory Approvals and Compliance

The warrant allotment was executed following comprehensive regulatory compliance and stakeholder approvals. BSE Limited granted in-principle approval through letter no. LOD/PREF/TT/FIP/1580/2025-26 dated January 23, 2026, authorizing the issuance of up to 98,58,000 warrants convertible into equity shares.

The company's shareholders provided their consent through an Extra-Ordinary General Meeting conducted via postal ballot on December 14, 2025. The allotment complies with Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Conversion Terms and Conditions

The warrants provide flexibility for conversion into equity shares within a defined timeframe. Each warrant holder can exercise the conversion option by paying the balance consideration of ₹9 per warrant within a maximum period of 18 months from the allotment date. Upon conversion, warrant holders will receive fully paid-up equity shares of face value ₹10 each.

Board Meeting Proceedings

The board meeting commenced at 04:30 p.m. (IST) and concluded at 05:00 p.m. (IST) on February 06, 2026. The meeting was conducted in accordance with regulatory requirements under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Unni Krishnan Nair, Manager and Whole-time Key Managerial Personnel, signed the official communication to BSE Limited regarding the board meeting outcome.

Jetmall spices & masala has received in-principle approval from BSE Limited for issuing warrants to non-promoter investors on a preferential basis. The Chennai-based spices and masala company announced this development on January 23, 2026, marking a significant step in its capital raising initiative.

Warrant Issue Details

The BSE approval covers the issuance of substantial warrants with specific conversion terms and pricing structure.

The warrants are convertible into an equal number of equity shares, providing investors with the option to convert their holdings into company stock at the predetermined price.

Regulatory Compliance Framework

BSE has outlined comprehensive compliance requirements that Jetmall Spices and Masala Limited must adhere to during the warrant issue process. The exchange emphasized that this in-principle approval does not constitute automatic listing approval, requiring separate compliance procedures.

The company must ensure strict adherence to multiple regulatory frameworks:

• Companies Act, 2013
• Securities Contracts (Regulation) Act, 1956
• SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
• SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Depositories Act, 1996

Internal Controls and Trading Restrictions

BSE has mandated specific internal control measures to prevent regulatory violations. The company must obtain undertakings from allottees confirming they will not engage in intra-day trading or sell company shares until the allotment date.

Key compliance requirements include:

• Monitoring trades executed by proposed allottees
• Obtaining written undertakings from investors
• Verifying compliance with SEBI ICDR Regulations
• Ensuring no unauthorized trading activities

Post-Approval Obligations

Following the warrant allotment, Jetmall Spices and Masala Limited must complete several post-issue formalities within specified timeframes. The company has twenty days from the allotment date to submit a listing application to the stock exchange, along with applicable fees as per Regulation 14 of LODR Regulations.

Non-compliance with the twenty-day listing application requirement will attract penalties as specified in SEBI circular SEBI/HO/CfD/PoD-2/P/CIR/2023/00094 dated June 21, 2023. BSE reserves the right to withdraw the in-principle approval if any submitted information proves incomplete, incorrect, or misleading.