Notice of EGM of the company to be held on Monday,09th March,2026 through Video Conferencing or Other Audio Visual Means.
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Awaiting price reaction for this filing.
Kizi Apparels has called an Extra-Ordinary General Meeting on 09 March 2026 (via video conferencing) to seek shareholder approval for two items. First, to increase the company's Authorised Equity Share Capital from Rs. 8 crore (80 lakh shares of Rs. 10 each) to Rs. 11 crore (1.10 crore shares of Rs. 10 each) via an Ordinary Resolution. Second, to issue up to 25,08,000 Convertible Warrants at Rs. 15 each (including Rs. 5 premium) on a preferential basis, raising up to Rs. 3.76 crore, via a Special Resolution. The warrants will be allotted mainly to the promoter and promoter group (15 lakh warrants), with the remainder to public investors, and are convertible into equity shares within 18 months (25% paid upfront, 75% on conversion). Proceeds of about Rs. 3.01 crore are earmarked for working capital needs and Rs. 75 lakh for general corporate purposes. There is no change in management or control as a result of the proposed issue, and the floor price was determined at Rs. 14.75 per share per SEBI ICDR Regulations.
If approved, the promoter group's stake will rise modestly (from ~57% to ~58%) while public shareholding will dilute from ~43% to ~42%; existing shareholders may see mild dilution once warrants convert. The Rs. 3.76 crore raise is small relative to the company's market cap, so any stock price reaction is likely to be limited, though successful fundraising supports working capital.