Submission of Notice of 33rd Annual General Meeting.
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KG Denim has called its 33rd AGM on Tuesday, 9 September 2025 at 4:30 PM at its registered office in Coimbatore. Ordinary business includes adoption of audited standalone and consolidated financial statements for FY25 and re-appointment of directors Shri Balakrishnan Sriramulu (Managing Director, holding 22,08,659 shares) and Shri R Selvakumar (Whole-Time Director). Under special business, shareholders will consider (1) appointing MDS & Associates LLP, Coimbatore as Secretarial Auditor for five consecutive financial years (FY26 to FY30) at a proposed remuneration of Rs. 2 lakh per year plus taxes; (2) issuing up to 13,47,000 convertible warrants at Rs. 17 each (total up to Rs. 2.29 crore) to promoter Mr. B. Sriramulu on a preferential basis, with the funds earmarked for loan repayment (Rs. 1.72 crore) and general corporate purposes (Rs. 56.99 lakh); and (3) issuing up to 10,00,000 6% Non-Convertible Cumulative Redeemable Preference Shares (NCRPS) of Rs. 100 each at par, aggregating Rs. 10 crore, to promoters Mr. B. Sriramulu (5 lakh shares) and Mr. K.G. Balakrishnan (5 lakh shares), redeemable in the 6th, 7th and 8th years from allotment. Post-issue, promoter Mr. B. Sriramulu's holding will rise from 8.61% to 13.18% on a fully diluted basis, and total promoter group holding will move from 58.74% to 60.80%. There is no change in control or board composition.
Existing public shareholders will see dilution of around 2 percentage points in their stake after the warrant conversion, while promoter control strengthens. The combined capital raise of up to about Rs. 12.29 crore from promoters is aimed at reducing debt and supporting operations, which could be mildly positive if it eases leverage, though the preferential pricing to insiders may raise governance concerns for minority shareholders.