The Board of Directors of the Company has approved the allotment of 98,58,000 warrants convertible into equity shares through a resolution passed at the board meeting held on Friday, February 06, 2026
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The board of Jetmall Spices and Masala Ltd approved the allotment of 98,58,000 warrants on a preferential basis at its meeting held on February 6, 2026. Each warrant is convertible into one equity share of Rs. 10 face value at an issue price of Rs. 36 per warrant, aggregating to a total consideration of about Rs. 35.49 crores. The allottee is Bridge India Fund, a non-promoter entity, which has already paid 75% of the consideration (around Rs. 26.62 crores) upfront. The balance Rs. 9 per warrant is payable within 18 months at the time of conversion. The allotment follows shareholder approval via postal ballot on December 14, 2025, and in-principle approval from BSE received on January 23, 2026.
This preferential warrant issue will dilute existing shareholders once the warrants are converted into equity shares over the next 18 months. On the positive side, it brings in a notable institutional investor (Bridge India Fund) and strengthens the company's capital base, though the full Rs. 35.49 crore will only be realized if and when the warrants are actually exercised.