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 announced its 33rd AGM to be held on Tuesday, 30th September 2025 at 4:30 PM at NSCI, Worli, Mumbai. Shareholders will consider adopting the FY 2024-25 audited financials and the re-appointment of Mr. Hashim Arif Merchant, who retires by rotation. Two special business items are on the agenda: (1) increasing the authorised share capital from INR 7.5 crore to INR 12.5 crore (adding 50 lakh equity shares of Rs. 10 each), and (2) issuing up to 47 lakh convertible warrants at Rs. 28 each, aggregating to about Rs. 13.16 crore, on a preferential basis. Of these, 43 lakh warrants go to the promoter/promoter group and 4 lakh to a non-promoter allottee. Proceeds are intended for working capital, general corporate purposes, and capex.
If approved, the preferential warrant issue will raise promoter group shareholding from 61.21% to 73.59% while reducing public shareholding from 38.79% to 26.41%, leading to meaningful dilution for non-promoter shareholders. The authorised capital hike is a procedural step to accommodate this and future fundraising, with capital infusion expected to support growth and expansion.