Jetmall Spices & Masala has undergone a significant change in ownership structure as the Raman Aggarwal group completed a substantial acquisition of shares, increasing their stake and gaining management control of the company.

Acquisition Details

On August 11, 2025, Raman Aggarwal, along with Anju Aggarwal and Shrey Aggarwal, collectively known as the "Acquirers," finalized the purchase of 12,04,300 equity shares of Jetmall Spices & Masala. This off-market transaction, executed through a share purchase agreement dated June 23, 2025, has resulted in a significant shift in the company's ownership structure.

Shareholding Changes

The acquisition has led to the following changes in shareholding:

The collective shareholding of the Aggarwal group has increased from 15.22% to 35.32% of the company's total equity, representing a substantial 20.10% increase.

Management Control

As per the disclosure made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the Acquirers, who belong to the promoter group, have also taken over management control of Jetmall Spices & Masala.

Company Overview

Jetmall Spices & Masala has a total equity share capital of Rs. 5,99,29,000, comprising 59,92,900 equity shares with a face value of Rs. 10 each. The company's equity structure remains unchanged following this acquisition.

Regulatory Compliance

The Acquirers have duly informed the BSE Limited and the Company Secretary of Jetmall Spices & Masala about this acquisition, in compliance with regulatory requirements. The disclosure was made on August 13, 2025, within the stipulated timeframe following the completion of the transaction.

This acquisition marks a significant development for Jetmall Spices & Masala, potentially influencing its future strategic direction under the new management control of the Raman Aggarwal group.

Jetmall Spices & Masala , a company in the spices and masala sector, has announced significant changes in its management and upcoming board deliberations.

Key Resignations

The company has disclosed two important resignations effective August 01, 2025:

1. Company Secretary and Compliance Officer: Ms. Manisha has stepped down from her role as Company Secretary and Compliance Officer. In her resignation letter, she cited "paucity of time and other pressing grounds" as the reasons for her departure.

2. Secretarial Auditors: M/s. A K Jain & Associates have resigned as the company's Secretarial Auditors for the financial year 2024-25. The firm stated that their resignation was due to pre-occupation, which made it impractical to continue the engagement effectively.

Both resignations took effect at the close of business on August 01, 2025. The company confirmed that Ms. Manisha stated there were no other material reasons for her resignation beyond those specified.

Upcoming Board Meeting

Jetmall Spices & Masala has also announced a board meeting scheduled for Saturday, August 09, 2025, at 12:30 P.M. The meeting will be held at the company's registered office in Chennai. Key agenda items for the meeting include:

1. Consideration and approval of a Share Purchase Agreement executed on June 23, 2025.
2. Proposal to shift the company's registered office within Chennai for administrative convenience and operational efficiency.
3. Formal noting of the resignations of Ms. Manisha and M/s. A K Jain & Associates.
4. Appointment of M/s Nishant Jain & Associates (FRN:S2024DE1004700) as the new Secretarial Auditors.

Share Purchase Agreement

The board will discuss a Share Purchase Agreement dated June 23, 2025, involving Mr. Bharat Kumar Pukhraj, a promoter and shareholder of the company. Mr. Pukhraj currently holds 12,04,300 equity shares of Jetmall Spices & Masala. The completion of this acquisition is subject to certain conditions and may result in changes to the company's shareholding structure and possibly affect control or promoter group composition.

Registered Office Relocation

The company is proposing to shift its registered office from its current location at NO. 33/1, RITHERDON ROAD, VEPERY, Chennai, to a new address at Innov 8, 10th Floor East Wing, Campus 2, RMZ Millennia Business Park-II, No.143, MGR Salai, Kandanchavadi Perungudi, Chennai-600096. This move is aimed at improving administrative convenience and operational efficiency.

Investors and stakeholders are advised to take note of these developments, which may have implications for the company's governance and operations in the coming months.