Submission of 33rd Annual Report for the year 2024-25 of the Company under Regulation 34(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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KG Denim has filed the Notice of its 33rd Annual General Meeting to be held on 9th September 2025 at 4:30 PM at the Registered Office in Coimbatore. Ordinary business includes adopting the FY25 audited financial statements and re-appointing directors Shri B. Sriramulu (Managing Director) and Shri R. Selvakumar (Whole-Time Director). Under special business, the company proposes issuing 13,47,000 convertible warrants at Rs. 17 each to promoter Mr. B. Sriramulu, raising up to Rs. 2.29 crore to be used for loan repayment and general corporate purposes. It also proposes issuing 10 lakh 6% Non-Convertible Cumulative Redeemable Preference Shares (NCRPS) of Rs. 100 each, aggregating Rs. 10 crore, to promoters Mr. B. Sriramulu and Mr. K.G. Balakrishnan. Additionally, MDS & Associates LLP is proposed as Secretarial Auditor for five years (FY26–FY30) at a remuneration of Rs. 2 lakh. Post-issue, promoter Mr. B. Sriramulu's stake will rise from 8.61% to 13.18%, and total promoter group holding will move from 58.74% to 60.80%.
Shareholders will vote on raising roughly Rs. 12.3 crore from promoters, which will dilute existing public shareholders and increase promoter control. The funds are aimed at reducing debt and general corporate needs, which could be positive for the balance sheet but signals continued reliance on promoter funding rather than broader capital raising.