Celebrity Fashions Limited has informed the Exchange regarding Outcome of Board Meeting held on March 21, 2026.
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The board of Celebrity Fashions approved the allotment of 48,69,933 equity shares at Rs. 10.31 each (including a Rs. 0.31 premium) via a preferential issue on a private placement basis, raising approximately Rs. 5.02 crore. The shares were allotted to five investors: three from the promoter group (Venkatesh Rajagopal, Vidyuth Rajagopal, Rama Rajagopal) and two from the public category (Manoj Mohenka and Paradisal Precision Private Limited). As a result, the company's paid-up equity capital increased from Rs. 59.68 crore to Rs. 64.55 crore. Additionally, the board approved the redemption of 50,20,900 1% Cumulative Redeemable Preference Shares (CRPS) of Rs. 10 each, with the redemption window shifted to between March 23 and March 30, 2026, since the original due date of March 31, 2026 is a local holiday.
The preferential allotment is at a very thin premium (3.1% over face value), which is mildly dilutive for existing shareholders but signals promoter and insider confidence in the company. The CRPS redemption simplifies the capital structure by retiring low-cost preference shares, which is broadly neutral to mildly positive for equity shareholders.