Corrigendum to the EGM Notice
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Checkpoint Trends Limited has issued a corrigendum to its EGM notice originally dispatched on October 4, 2025, ahead of the EGM scheduled for October 27, 2025 via video conferencing. The corrigendum revises the objects of a preferential issue of convertible warrants totaling Rs. 170.00 lakhs — Rs. 30 lakhs for a 'Buyout of Global Tabbac Legacy', Rs. 97.50 lakhs for working capital, and Rs. 42.50 lakhs for general corporate purposes, to be utilized within 12 months of fund receipt. It also revises the objects of a proposed Qualified Institutions Placement (QIP) of equity shares totaling Rs. 500.00 lakhs — Rs. 80 lakhs for the same buyout, Rs. 295 lakhs for working capital, and Rs. 125 lakhs for general corporate purposes. Acuite Ratings & Research has been appointed as monitoring agency for both issues since each exceeds the Rs. 100 crore threshold. A separate figure in the notice was corrected from Rs. 40.01 to Rs. 45.01, and a list of 14 proposed warrant allottees (all non-promoter entities/individuals) was disclosed, with an added clause noting that any allottee triggering SEBI Takeover Regulations must make an open offer.
Shareholders should read the corrigendum alongside the original EGM notice before voting on October 27, as it materially updates the use-of-proceeds, the identity of proposed allottees, and the per-share pricing figure. The fundraise is primarily aimed at a 'Global Tabbac Legacy' buyout and working capital, which could be a strategically significant acquisition if completed.