Notice of Extra Ordinary General Meeting of the company to be held on November 20, 2025
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Candour Techtex Limited has called an EGM on November 20, 2025 at 3:00 p.m. via video conferencing to seek shareholder approval for three key items. First, the company proposes to increase its authorized share capital from Rs. 23.70 crore to Rs. 37 crore (from 2.37 crore to 3.70 crore equity shares of Rs. 10 each). Second, it plans to issue 67,86,400 equity shares on a preferential basis at Rs. 125 per share, raising approximately Rs. 84.83 crore from select investors. Third, it proposes to issue 90,72,000 convertible warrants at Rs. 125 per warrant, potentially raising another Rs. 113.40 crore if fully exercised. The warrants carry a 25% upfront payment with the balance due upon conversion within 18 months. The relevant date for pricing is October 20, 2025. E-voting will be open from November 17 to November 19, 2025, with the cut-off date being November 13, 2025.
If approved, this will result in significant dilution for existing shareholders as the company plans to raise up to Rs. 198.23 crore collectively through preferential equity and convertible warrants. The share price of Rs. 125 indicates a premium issue price, and successful capital raising could strengthen the company's balance sheet, though existing shareholders may see their holding percentages reduced.