This is to inform you that the 33rd Annual General Meeting ('AGM') of the Company will be held on Tuesday, 30th September, 2025 at 4.30 PM IST at Imperial Lounge (NSCI), The National Sports ....
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Citichem India has called its 33rd AGM on 30 September 2025 at 4:30 PM in Worli, Mumbai. Apart from routine items like adopting FY25 results and re-appointing Mr. Hashim Arif Merchant as director, shareholders will vote on two special items. First, the company wants to raise its authorised share capital from ₹7.5 crore to ₹12.5 crore by creating 50 lakh new equity shares of ₹10 each. Second, it plans to issue up to 47 lakh convertible warrants at ₹28 per warrant, raising up to ₹13.16 crore, mostly to promoter family members and one outsider on a preferential basis. Remote e-voting runs from 27 September (9 AM) to 29 September (5 PM). If the warrant issue goes through, promoter holding will jump from 61.21% to 73.59%, while public shareholding will fall from 38.79% to 26.41%. The money raised will be used for working capital, general corporate purposes, and capex.
Existing public shareholders face dilution of nearly 12.4 percentage points in their stake, and promoter control of the company will strengthen significantly. The fund raise is relatively small but signals promoter confidence in funding future growth, while the warrant structure means actual cash inflow will be staggered over 18 months.