Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby enclose the Notice of Extra Ordinary General Meeting (EOGM/EGM) of the ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Lippi Systems Limited has called an EGM on June 14, 2026 to seek shareholder approval for two key proposals. First, the company proposes to increase its authorized share capital from Rs 10 crore to Rs 15 crore by adding 50 lakh new equity shares of Rs 10 each. Second, and more significantly, the company intends to issue up to 65 lakh convertible equity warrants to five allottees (Vinesh Shivji Dholu, Jagdish Shivji Dholu, Shivji Karamrashi Dholu, Jagruti Vinesh Dholu, and Parul Jagdish Dholu) at Rs 56.84 per warrant, raising approximately Rs 36.94 crore. These allottees are currently non-promoters but will become promoters post the open offer. Payment terms require 25% upfront and 75% upon exercise, with warrants expiring after 18 months. Proceeds will fund capital expenditure, working capital, and general corporate purposes.
This preferential warrant issue will dilute existing shareholders and appears to signal a change in control, as five investors are set to become promoters. The Rs 36.94 crore fundraise could provide growth capital but will increase share count significantly when warrants are converted to equity shares.