Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer for the attention of the Public Shareholders of Jetmall Spices and Masala Ltd ("Target ....
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Mark Corporate Advisors has submitted the Letter of Offer to BSE for a mandatory Open Offer on Jetmall Spices and Masala Limited (SME-listed, scrip 543286), triggered under SEBI Takeover Regulations 3(1) and 4. The Aggarwal family — Mr. Raman Aggarwal, Mrs. Anju Aggarwal, and Mr. Shrey Aggarwal (husband, wife, son) — already entered a Share Purchase Agreement on June 23, 2025 to buy 12,04,300 shares (20.10%) from existing promoter Mr. Bharat Kumar Pukhraj at ₹11 per share (₹1.32 crore total), which was consummated on August 11, 2025. The Open Offer now invites public shareholders to tender up to 15,60,000 equity shares (26.03% of voting capital) at ₹12.50 per share, aggregating to ₹1.95 crore in cash. The tendering window runs from September 17, 2025 to September 30, 2025, after which the acquirers will gain control and existing promoters will be declassified. Separately, the target's board approved a preferential issue of 1.52 crore convertible warrants at ₹23 each (₹35.15 crore) and an increase in authorised capital from ₹6 crore to ₹22 crore.
Public shareholders can exit by tendering shares at ₹12.50 during the offer window (Sept 17–30, 2025). The event signals a complete change of control, which may drive short-term price action and bring a new management direction to this small-cap spices company.