With reference to our earlier submission dated 11th April, 2025, we hereby submit the copy of EGM Notice to be held on 07th May, 2025 at 02.00 P.M
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CDG Petchem has called an Extra-Ordinary General Meeting on May 7, 2025 at 2:00 PM via video conferencing to seek shareholder approval on six key items. The company plans to double its authorized share capital from ₹5 crore to ₹10 crore (50 lakh to 1 crore equity shares of ₹10 each). It also proposes a preferential issue of up to 61,58,000 equity shares at ₹41 per share (₹31 premium), raising about ₹25.25 crore, along with 7,64,500 convertible warrants at ₹41 each, raising an additional ~₹3.13 crore. A notable allocation of 49 lakh equity shares and 5.64 lakh warrants is earmarked for Jujhar Constructions and Travels Pvt Ltd as the proposed new promoter post an open offer under takeover regulations, indicating a change in control. Additionally, the company wants to alter its main object clause to pivot into the logistics and transport business, and adopt a fresh set of MOA and Articles of Association.
This EGM signals a likely change of promoter and control of the company, with a new promoter (Jujhar Constructions) set to emerge after an open offer. The combined preferential issue and warrants will dilute existing shareholders by issuing roughly 69 lakh new securities. The proposed shift from petchem to logistics represents a significant change in business direction that existing shareholders should carefully evaluate before voting.