Independent Directors Committee (IDC) have submitted to BSE recommendations under Regulation 26(7) of SEBI (SAST) Regulations, 2011, for the Open Offer to Public Shareholders of Jetmall ....
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Jetmall Spices and Masala Limited has submitted the recommendations of its Independent Directors Committee regarding an Open Offer made by three acquirers — Mr. Raman Aggarwal, Mrs. Anju Aggarwal, and Mr. Shrey Aggarwal. The offer is for up to 15,60,000 equity shares (26.03% of voting share capital) at ₹12.50 per share. The IDC, chaired by Mr. Vivek Sethi with Mr. Harpreet Singh as member, reviewed the Public Announcement, Detailed Public Statement, and Letter of Offer. After review, the committee unanimously concluded that the Open Offer is fair and reasonable. The recommendations were published in Business Standard (English and Hindi), Navshakti (Marathi), and Makkal Kural (Tamil) newspapers on September 12, 2025.
Shareholders now have the IDC's formal endorsement that the ₹12.50 per share offer price is fair and reasonable. Public shareholders should still independently evaluate the offer before deciding to tender their shares. The recommendation removes a key uncertainty but does not guarantee the offer price reflects full intrinsic value.