Craft Emerging Market Fund PCC has acquired a 5.32% stake in Jay Ambe Supermarkets Limited by purchasing 472,000 equity shares. The transaction, executed through the open market on September 19, 2025, marks the fund’s initial entry into the company’s shareholding structure. This disclosure is significant as it registers a new substantial shareholder in the listed entity, potentially influencing future corporate governance dynamics.

The acquisition was formally notified to the Bombay Stock Exchange (BSE) through a revised disclosure under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Filed on July 24, 2026, this submission corrects an earlier filing dated June 5, 2026, which omitted the specific date of acquisition. The acquirer, represented by Ashwanee Ramsurrun from Mauritius, clarified that the previous filing lacked the precise transaction date, necessitating this updated report.

Acquisition Details

The stake was accumulated by Craft Emerging Market Fund PCC – Citadel Capital Fund and Craft Emerging Market Fund PCC – Elite Capital Fund, which are acting as Persons Acting in Concert (PAC). Prior to this acquisition, the fund held no shares or voting rights in Jay Ambe Supermarkets Limited. The entire holding of 472,000 shares represents equity shares carrying voting rights, with no warrants, convertible securities, or encumbrances involved in the transaction.

Shareholding Structure

Following the acquisition, Craft Emerging Market Fund PCC holds 472,000 shares, constituting 5.32% of the total share capital and 5.32% of the total diluted voting capital of Jay Ambe Supermarkets Limited. The total equity share capital of the target company remains unchanged at 8,879,954 shares. The acquirer confirmed that it does not belong to the promoter or promoter group of the company.

Regulatory Compliance

The disclosure adheres to the requirements of Clause 35 of the Listing Agreement regarding total share capital calculations. Diluted voting capital assumes full conversion of outstanding convertible securities, though none were part of this specific transaction. The filing serves as a mandatory regulatory update to ensure transparency in substantial share acquisitions, providing investors with accurate data on ownership changes within the listed entity.

Jay Ambe Supermarkets Limited has approved the alteration of objects for its Initial Public Offer (IPO) to reallocate unutilized proceeds towards a new store in Bayad, Gujarat. The decision, taken by the Board on July 08, 2026, is subject to shareholder approval through a postal ballot. The company aims to utilize the remaining funds for fit-outs and assets at a newly identified premises, shifting from the originally planned location in Lunawada.

The company had raised ₹1,844.54 Lakhs through its IPO in FY26. As on March 31, 2026, ₹147.00 Lakhs remained unutilized, specifically from the allocation for purchasing fit-outs for three new stores. While ₹316.32 Lakhs was deployed for two stores in Mansa and IIT Gandhinagar, the balance is now proposed to be used for the third store at Shreeji Madhuram Complex in Moje Bayad. The estimated project cost for the new location is ₹152.43 Lakhs, with the deficit of ₹5.43 Lakhs to be funded through internal accruals.

The Board has appointed Mr. Nayan Pitroda, Partner of M/s. PNK & Co., Practicing Company Secretaries, as the Scrutinizer for the postal ballot process. National Securities Depository Limited (NSDL) will provide the remote e-voting facility. The voting period commences at 9:00 a.m. IST on Thursday, July 09, 2026, and concludes at 5:00 p.m. IST on Friday, August 07, 2026. The record date to determine shareholder eligibility is Friday, July 03, 2026.

The resolution requires a special resolution passed by a majority of more than 90% of the shareholding. If approved, the variation will be implemented; otherwise, the original objects stated in the Prospectus dated September 13, 2025, will remain unchanged. The company expects the new store to commence commercial operations by the end of August 2026, citing lower rental costs and better business potential at the new location.