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, seeking 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 issuing 50 lakh additional equity shares of Rs.10 each. Second, and more significantly, the company plans to issue up to 65 lakh convertible equity warrants at Rs.56.84 per warrant to five allottees (Vinesh Shivji Dholu, Jagdish Shivji Dholu, Shivji Karamrashi Dholu, Jagruti Vinesh Dholu, and Parul Jagdish Dholu), raising Rs.36.94 crore. These allottees are currently classified as non-promoters but will become promoters post an open offer. The warrants have an 18-month tenure, with 25% payable on allotment and 75% on exercise. Proceeds will be used for capital expenditure, working capital, and general corporate purposes.
The preferential warrant issue to specific investors implies a potential change in control, as these allottees will transition from non-promoters to promoters. Existing shareholders face dilution as up to 65 lakh new equity shares may be issued upon conversion. The implied open offer requirement under SEBI regulations signals a significant corporate restructuring.