Jetmall Spices & Masala , a prominent player in the spices and masala industry, has successfully amended its Memorandum of Association to increase its authorized share capital. The move, approved by shareholders through a postal ballot, signals the company's preparedness for future growth and expansion.

Key Highlights

• Authorized Share Capital Increase: The company has raised its authorized share capital to Rs. 22.00 crore, divided into 2.20 crore equity shares of Rs. 10.00 each.
• Shareholder Approval: The amendment was passed through a postal ballot, demonstrating strong shareholder support for the company's strategic decisions.
• Future-Ready Move: This increase in authorized capital is aimed at facilitating future capital issuances, considering the company's current size and operations.

Voting Results

The postal ballot saw overwhelming support from shareholders. Here's a breakdown of the voting results:

The resolution to increase the authorized share capital and alter the Memorandum of Association was passed as an Ordinary Resolution with unanimous approval from voting shareholders.

Additional Resolutions

In addition to the share capital increase, shareholders also approved two special resolutions:

1. Issuance of warrants convertible into equity shares on a preferential basis to non-promoters.
2. Increase in limits for making investments, extending loans, and providing guarantees or securities in connection with loans to persons or bodies corporate.

Both these resolutions received 100% approval from the voting shareholders.

Management's Statement

Mr. Unni Krishnan Nair, Manager and Whole-Time Key Managerial Personnel of Jetmall Spices & Masala, stated, "The amendment to our Memorandum of Association reflects our commitment to creating a robust foundation for future growth. The increased authorized share capital provides us with the flexibility to raise funds as needed to support our expansion plans and operational requirements."

Looking Ahead

The increase in authorized share capital positions Jetmall Spices & Masala for potential equity fundraising activities in the future. This move could enable the company to pursue growth opportunities, invest in new technologies, or expand its market presence in the competitive spices and masala industry.

Investors and market watchers will be keen to observe how Jetmall Spices & Masala leverages this increased capital base to drive its business strategy and create value for shareholders in the coming months.

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.