Corrigendum to the Notice of Extra-Ordinary General Meeting of the members of Classic Filaments Limited to be held on 15th June, 2026 at 12:00 P.M. through VC/OAVM
Awaiting price reaction for this filing.
Classic Filaments Limited has issued a corrigendum to its EGM notice (originally dated 15th May 2026) in response to BSE's observations on a proposed preferential issue of up to 47,17,740 equity shares valued at approximately ₹24.30 crores, representing 43.56% of the post-issue share capital. The EGM is scheduled for 15th June 2026. All 53 proposed allottees belong to the Non-Promoter category, and the allotment will not result in any change in control or management of the company. The proceeds are earmarked for acquisition of Procasts Engineering Private Limited (Aluminium Die Casting, ₹1200 lakhs) and Solven Power Systems Private Limited (Structural Steel Fabrication, ₹200 lakhs), expansion of existing business (₹422.23 lakhs), and general corporate purposes (₹607.40 lakhs). A minor correction was also made to the PAN of one allottee.
The preferential issue will lead to significant equity dilution (43.56% for non-promoters) but no change in control. Shareholders should evaluate the strategic rationale of the two acquisitions, which aim to diversify Classic Filaments beyond its existing operations into aluminium die casting and steel fabrication.