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Callista Industries has issued a 2nd Corrigendum to its AGM notice after receiving comments from BSE on its application for in-principle approval of the proposed preferential issue. The corrigendum updates the issue size, allottees, and the proposed use of funds. The company plans to raise up to Rs. 26.90 crore through two parts: (1) 2,12,50,000 convertible warrants at Rs. 10 each (Rs. 21.25 crore), and (2) 56,50,000 equity shares at Rs. 10 each (Rs. 5.65 crore). Both are priced at face value. About Rs. 6.25 crore of the warrants are earmarked for the promoter group (Sharma and Parmar families), while the largest non-promoter allottee is Koriander Consultants LLP (Rs. 55 lakh). The disclosed purpose includes acquiring a stake in Radhey Flexibles Packaging Private Limited (further details truncated in document).
This is a large equity dilution for existing shareholders, with pricing at face value raising concerns about the share's market valuation. Promoter participation is a positive signal of confidence, but shareholders should review the dilution and end-use carefully before voting. Remote e-voting runs from 8th to 10th June 2026, requiring shareholder action.