This is to inform you that the 33rd Annual General Meeting of Citichem India Limited will be held on Tuesday, 30th September 2025 at 4.30 pm at Imperial Lounge (NSCI), The National Sports ....
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Citichem India Limited has called its 33rd AGM on Tuesday, 30th September 2025 at 4:30 PM at Imperial Lounge, NSCI, Worli, Mumbai. Ordinary business includes adoption of audited FY2024-25 financial statements and re-appointment of Mr. Hashim Arif Merchant, who retires by rotation. Special business includes two key items: (1) increasing the Authorised Share Capital from Rs. 7.5 crore to Rs. 12.5 crore (adding 50 lakh equity shares of Rs. 10 each) to facilitate future fund raising, and (2) issuing up to 47 lakh convertible warrants at Rs. 28 each on a preferential basis, aggregating Rs. 13.16 crore. The warrants will go to four promoter group members (Arif Esmail Merchant, Hashim Arif Merchant, Fozia Arif Merchant, Saima Hashim Merchant — 43 lakh warrants) and one non-promoter (Padmakar Jagannath Murodiya — 4 lakh warrants). Proceeds will be used for working capital, general corporate purposes and capex. E-voting window opens 27th September and closes 29th September 2025.
Existing public shareholders face dilution with their stake dropping from 38.79% to 26.41% post-issue, while the promoter group's holding rises from 61.21% to 73.59%. The promoter-led capital infusion signals insider confidence and brings in fresh funds for growth, but existing minority investors should track the preferential issue pricing (set at SEBI floor price) and intended use of proceeds closely.