Notice of 1st Extra-Ordinary General Meeting of the members of Company for the F.Y. 2025-26.
Awaiting price reaction for this filing.
White Organic Retail Ltd (BSE: WORL, Scrip Code 542667) has called its 1st Extra-Ordinary General Meeting for FY 2025-26 on April 29, 2025 at 2:00 PM via video conferencing. Three special business items are on the agenda: (1) Change of the company's name from 'White Organic Retail Limited' to 'Diva Organic Living Limited', (2) Issuance of 4 crore (400 lakh) equity shares of Rs. 10 each at Rs. 10 per share on a preferential basis to 20 non-promoter allottees, raising Rs. 40 crore, with notable celebrity investors including Malaika Arbaaz Arora Khan, Shruti Haasan, and Sreeleela, and (3) Issuance of 25 lakh equity shares valued at Rs. 2.5 crore on a cashless share swap basis to acquire Seven Billion Breaths Private Limited (owner of the Diva Yoga business), at a swap ratio of 78 shares of WORL for every 5 shares of Seven Billion Breaths. The preferential issue valuation was done by a registered valuer at Rs. 10 per equity share. Remote e-voting is open from April 26 to April 28, 2025, with the cut-off date being April 21, 2025.
If approved, existing shareholders will face significant dilution from the preferential issue (4 crore new shares) and the share-swap acquisition, while the company plans a rebranding to 'Diva Organic Living Limited' and entry into the yoga/wellness segment via the Diva Yoga acquisition. The presence of celebrity allottees and a strategic acquisition could attract investor attention, though dilution and the change in business identity are key risks to watch.