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 Annual General Meeting on Tuesday, 30th September 2025 at 4:30 PM at NSCI, Worli, Mumbai. The AGM agenda includes adoption of FY2024-25 audited financials, re-appointment of Mr. Hashim Arif Merchant (DIN: 03015945) as Director via rotation, and two special business items. The first is an Ordinary Resolution to increase Authorised Share Capital from ₹7.5 crore (7.5 million equity shares of ₹10 each) to ₹12.5 crore (12.5 million equity shares of ₹10 each). The second is a Special Resolution to issue up to 47,00,000 convertible warrants at ₹28 per warrant, aggregating to ₹13.16 crore, on a preferential basis. Of these, 43,00,000 warrants are allocated to four promoter-group individuals (Arif Esmail Merchant, Hashim Arif Merchant, Fozia Arif Merchant, Saima Hashim Merchant) and 4,00,000 to a non-promoter allottee (Padmakar Jagannath Murodiya). Proceeds will be used for working capital, general corporate purposes, and capex. Post-issue promoter holding rises from 61.21% to 73.59%, while public holding falls from 38.79% to 26.41%.
If approved, promoter shareholding will jump from 61.21% to 73.59%, significantly increasing promoter control and diluting public shareholders. The ₹13.16 crore preferential issue at ₹28 per warrant may be priced below market depending on recent trading, and existing public shareholders will see their stake shrink to 26.41%.