Allotment of 98,58,000 fully convertible warrants.
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Jetmall Spices and Masala Ltd has allotted 98,58,000 convertible warrants to Bridge India Fund (a non-promoter entity) on a preferential basis, as approved by the board on February 6, 2026. The total consideration is ₹35.49 crore at a warrant issue price of ₹36 each (face value ₹10). Of this, 75% (₹27 per warrant, aggregating ₹26.62 crore) has already been received from the allottee, while the remaining ₹9 per warrant is payable at the time of conversion into equity shares. Each warrant is convertible into one equity share within 18 months from the date of allotment. The move was approved by shareholders via postal ballot on December 14, 2025, and received BSE in-principle approval on January 23, 2026.
The preferential warrant issue will strengthen the company's capital base once warrants are converted into equity. However, existing shareholders may face equity dilution once the warrants are exercised, and the company will need to deliver on its growth plans to justify the ₹36 per share pricing.