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

Acquirers have launched an Open Offer to acquire up to 15.6 lakh shares of Jetmall Spices, representing 26.03% of voting capital, at ₹12.50 per share, valuing the offer at ₹1.95 Cr. The independent directors assessed the offer and found it fair and reasonable, advising shareholders to make independent decisions. The acquirers previously bought a 20.10% stake for ₹1.32 Cr and aim to gain majority control without delisting. A board meeting approved increasing authorized capital to ₹22 Cr (from ₹6 Cr) and issuing 1.52 crore convertible warrants at ₹23 each, raising ₹35.15 Cr, pending shareholder approval. The company also faced a minor ₹0.01 Cr regulatory penalty.