Jetmall Spices and Masala Ltd — Important, 01-01-1970: Company Update

Jetmall Spices and Masala Limited faces an open offer by Mr. Raman Aggarwal and family to acquire up to 15.60 lakh equity shares (26.03% of voting capital) at ₹12.50 per share. This follows their earlier agreement to acquire 12.04 lakh shares (20.10%) for ₹1.32 Cr from the promoter, leading to a change in control. The Acquirers aim for a majority stake and may explore business expansion or capital structure reorganization, but have no delisting plans. The company reported a revenue from operations of ₹0.74 Cr and a net loss of ₹0.74 Cr for the last fiscal year, with an EPS of (₹1.24). The offer is fully funded by the Acquirers' own resources, with ₹1.95 Cr in an escrow account. Independent Directors will provide their view on the offer.