Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulations 3(1) and 4 read with Regulations 13(1), 14 and 15(1) of The ....
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Three acquirers — Mr. Raman Aggarwal, Mrs. Anju Aggarwal, and Mr. Shrey Aggarwal — have triggered a mandatory open offer to buy up to 15,60,000 equity shares (26.03% of voting capital) of Jetmall Spices and Masala Ltd from public shareholders. The maximum total consideration is ₹1.95 crore, implying an offer price of around ₹12.50 per share, payable entirely in cash. The open offer follows a Share Purchase Agreement dated June 23, 2025, under which the acquirers will purchase 12,04,300 shares (20.10%) from existing promoter Mr. Bharat Kumar Pukhraj at ₹11 per share (₹1.32 crore). After the deal, the acquirers will collectively hold 35.32% of the company and become the new promoters, while the existing promoter and 6 other promoter group members will reclassify themselves as public shareholders. The detailed public statement is expected by June 30, 2025.
Existing public shareholders get a chance to exit at the open offer price of approximately ₹12.50 per share, which is above the ₹11 per share being paid to the outgoing promoter. The change in control could lead to shifts in business strategy under the new promoter group. Short-term price movement is likely as the open offer price acts as a near-term benchmark for the stock.