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Awaiting price reaction for this filing.
Clio Infotech Ltd (BSE: 530839) filed its Annual Report for FY 2024-25 following its 33rd (adjourned) Annual General Meeting held on 12 September 2025 via video conferencing. Key business transacted at the AGM included: (1) approval of audited financial statements for FY ended March 31, 2025; (2) re-appointment of Managing Director Ms. Nikita Tiwadi (DIN: 10646772) who retires by rotation; (3) appointment of Ms. Shubhangi Agarwal as Secretarial Auditor for a five-year term from FY 2025-26 to FY 2029-30; (4) an eight-fold increase in authorised share capital from Rs. 12 crore (1.2 crore equity shares of Rs. 10 each) to Rs. 100 crore (10 crore equity shares of Rs. 10 each); (5) adoption of revised Articles of Association; and (6) approval for issuance of up to 8.7 crore convertible warrants at Rs. 10 each, aggregating up to Rs. 87 crore, on a preferential basis to four non-promoter entities — Global Focus Fund, AIO Growth Capital Fund SPC, Wave Capital Limited, and Falcon Peak Fund (CEIC) Ltd (each allotted 2.175 crore warrants for Rs. 21.75 crore). Warrants carry a 25% upfront payment with the remaining 75% due on conversion within 18 months, and were priced at the SEBI floor price of Rs. 10. The AGM also noted multiple board changes during the year, including a near-complete reconstitution in mid-2024, a change of statutory auditor from S.D. Mehta & Co. to KPSJ & Associates LLP, and a shift in registered office to Kalbadevi, Mumbai.
The Rs. 87 crore preferential warrant issue could result in significant equity dilution if all warrants are converted — potentially expanding the share base by up to 8.7 crore shares against the current authorised capital of 1.2 crore shares. Existing shareholders should weigh the dilution against the funding this brings; the share price may come under pressure given the floor price is set at Rs. 10 per share. The eight-fold hike in authorised capital is a structural step to accommodate this and possibly future issuances.