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.

Jay Ambe Supermarkets Limited has expanded its business footprint by incorporating Kilo Kulture Private Limited, a wholly-owned subsidiary focused on the textile industry. The subsidiary was incorporated on June 15, 2026, with the objective of trading readymade garments, hosiery, home textiles, and related accessories. This strategic move allows the parent company to diversify its retail operations beyond supermarkets into the textile sector.

The incorporation was completed through a cash consideration of ₹1,00,000, representing the subscription money for 10,000 equity shares priced at ₹10 each. Jay Ambe Supermarkets acquired 100% of the shareholding in the new entity. The acquisition involved 9,999 equity shares subscribed through Mr. Rutwijkumar Maganbhai Patel, Director, as an Authorised Representative, and one equity share acquired by Mr. Jignesh Amratbhai Patel, Managing Director, as a nominee.

Kilo Kulture Private Limited has an authorised capital of ₹10,00,000 divided into 1,00,000 equity shares of ₹10 each. As a newly incorporated entity registered with the Registrar of Companies in Ahmedabad, the subsidiary has not yet commenced business operations and currently reports nil turnover. The company does not require any specific governmental or regulatory approvals for this acquisition.

Financial Details of Kilo Kulture Private Limited

The subsidiary's primary business activities will include the retail sale of clothing, footwear, toys, gift articles, and household items through stalls, textile markets, and supermarkets. This expansion aligns with the parent company's strategy to fulfil its main object through related verticals.