Kanpur Plastipack Limited has informed the Exchange that the revised date of Extraordinary General Meeting is Jun 11, 2025
KANPRPLA · price
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Kanpur Plastipack has rescheduled its Extraordinary General Meeting from June 12, 2025 to June 11, 2025 (10:00 AM, at the registered office in Kanpur) to comply with SEBI ICDR Regulations after receiving an observation letter from NSE on May 26, 2025. Along with the date change, the company has issued a corrigendum to the original EGM notice, adding clarifications to the proposed preferential issue of 10,12,000 warrants. Each warrant carries an upfront price of ₹40 and a balance of ₹90 on conversion, taking the total issue size to roughly ₹13.16 crore. Of this, about ₹11.84 crore will go toward repaying borrowings and around ₹1.31 crore toward general corporate purposes, to be deployed within 2–6 months of fund raising. Post-issue, promoter shareholding moves marginally from 67.63% to 67.71%, while total share count would rise to about 2.42 crore shares assuming full warrant conversion.
This is a procedural/compliance update — the EGM is only shifted by one day, so shareholder participation is unlikely to be affected. For investors, the key takeaway is the proposed preferential allotment of warrants, which could modestly dilute existing shareholders (~4.4% potential increase in share count) once converted, though a large portion of proceeds is earmarked for debt reduction, which may improve the company's balance sheet.