NOTICE IS HEREBY GIVEN THAT THE EXTRA ORDINARY GENERAL MEETING OF THE MEMBERS OF CLASSIC FILAMENTS LIMITED IS SCHEDULED TO BE HELD ON MONDAY, 15th JUNE 2026 AT 12:00 P.M. THROUGH VIDEO ....
Awaiting price reaction for this filing.
Classic Filaments Limited has called an EGM on 15th June 2026 via video conferencing to consider 12 agenda items. Key proposals include: (1) Appointing Mr. Vikkas Bansal as Chairman and Managing Director for 5 years; (2-5) Regularizing 4 directors including 3 independent directors and 1 woman independent director; (6-7) Adopting new MOA and AOA as per Companies Act 2013; (8) Doubling authorized share capital from ₹7.50 crore to ₹15 crore; (9) Issuing 47,17,740 equity shares (43.56% post-issue) at ₹51.50 per share via preferential allotment to 53 non-promoter allottees, raising ₹24.30 crore; (10) Expanding business objects to include auto parts, engineering, metals, software/fintech, and aluminium casting; (11-12) Increasing borrowing and investment limits to ₹100 crore each. Remote e-voting runs from 12th to 14th June 2026.
This EGM represents a major overhaul of the company's capital structure and business scope. The 43.56% dilution from the preferential issue will significantly reduce existing shareholders' stake. The expanded object clause signals diversification into multiple new sectors (auto parts, engineering, fintech, aluminium casting), which could alter the company's risk profile. The new leadership appointment and board regularization may improve governance but increases concentration of control.