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Awaiting price reaction for this filing.
Clio Infotech has sent out the notice for its 33rd AGM to be held on September 5, 2025 through video conferencing. The notice covers several key business items: adoption of audited financial statements for FY ending March 31, 2025; re-appointment of Ms. Nikita Tiwadi (DIN: 10646772) as Executive Director who retires by rotation; appointment of Ms. Shubhangi Garwal as Secretarial Auditor for five consecutive years (FY2025-26 to FY2029-30); increase in authorised share capital from Rs. 12 crore (1.2 crore equity shares of Rs. 10) to Rs. 100 crore (10 crore equity shares of Rs. 10), requiring alteration of the Memorandum of Association; adoption of a new set of Articles of Association; and a preferential issue of up to 8,70,00,000 convertible warrants at Rs. 10 per warrant to four non-promoter allottees (Global Focus Fund, OK Growth Capital Fund SPC, Wavecapital Limited, and Falcon Peak Fund (C) Ltd), aggregating up to Rs. 87 crore. E-voting will run from September 2 to September 4, 2025, with the cut-off date being August 29, 2025.
Existing shareholders may face significant equity dilution if the 8.7 crore warrants are converted into equity shares, as this could nearly double the company's current equity base. The preferential allotment to non-promoter entities at Rs. 10 per share may be perceived as low-priced, which could weigh on sentiment. Shareholders should vote on these resolutions and evaluate the dilution impact on their holdings.