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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Jetmall Spices and Masala Ltd has sent a Postal Ballot Notice to shareholders to seek approval on four special businesses through e-voting (CDSL platform) from November 15 to December 14, 2025. 1) The company proposes to drastically change its main business objects — moving away from spices/masala trading into Alternate Dispute Resolution (ADR) services such as arbitration, mediation, conciliation, training, consultancy, and operating ADR centres. 2) A corresponding realignment of the Memorandum of Association is proposed to match the new objects and the Companies Act 2013. 3) The company is seeking fresh approval to issue up to 98,58,000 convertible warrants at Rs. 36 each (total ~Rs. 35.49 crore, equivalent to ~USD 4 million at RBI reference rate) to Bridge India Fund, a non-promoter FPI (Category I). The earlier postal ballot approval (concluded October 1, 2025) was rejected by BSE in-principle approval on October 20, 2025, hence this re-application. The investor will pay 75% upfront and 25% on conversion within 18 months. 4) K Singh & Associates, Chartered Accountants (FRN 012458N, Chandigarh) is proposed as new Statutory Auditor, replacing Darpan & Associates (FRN 016156S) who resigned, to hold office until the 2026 AGM.
This is a major business pivot — shareholders are being asked to approve a shift from food/spices trading into the ADR/dispute-resolution business, accompanied by an FPI fund infusion of ~Rs. 35.49 crore that could meaningfully expand the share base (~98.58 lakh warrants). Existing shareholders should evaluate whether the new business direction fits their risk appetite and note that equity dilution will occur if warrants are converted, while the BSE rejection of the earlier similar proposal adds execution uncertainty.