Pursuant to regulation 30 of SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015, we hereby submit Notice for the Extra-Ordinary General Meeting of the Company scheduled ....
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Davin Sons Retail Limited (BSE: 544331) has called an Extra-Ordinary General Meeting on September 9, 2025 at 3:00 PM via video conferencing, with the cut-off date for e-voting eligibility set as September 2, 2025. Three special business items are on the agenda: (1) Increasing authorised share capital from ₹6 crore (60 lakh equity shares of ₹10 each) to ₹10 crore (1 crore equity shares of ₹10 each); (2) Preferential allotment of up to 19,25,000 equity shares at ₹25 each (including ₹15 premium) to raise up to ₹4.81 crore, of which 5,75,000 shares go to promoters Mohit Arora and Nohit Arora, and 13,50,000 shares to 8 non-promoter entities including Vansha Wealth Management, Gaurav Jain HUF, and RNR Wealth Management; (3) Preferential issue of up to 11,50,000 convertible warrants at ₹25 each to promoters Mohit Arora (6.5 lakh) and Nohit Arora (5 lakh), with 25% upfront payment and 75% on conversion within 18 months, potentially adding another ₹2.87 crore. Total potential capital raise is up to approximately ₹7.69 crore if all warrants are exercised.
Existing shareholders will see dilution of up to around 25-30% if all preferential shares and warrants are fully allotted and converted, though the issue price of ₹25 is at a premium to the ₹10 face value. The strong promoter participation (over ₹4.3 crore combined across equity and warrants) signals management confidence and alignment, but retail investors should review the use-of-proceeds disclosure and watch for post-EGM price action once the dilution is priced in.