Corporate Action Record Date is 21/04/2025 for conducting Extra Ordinary General Meeting dated 28/04/2025
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Awaiting price reaction for this filing.
Royal Cushion Vinyl Products Limited has called an Extra Ordinary General Meeting (EOGM) on Monday, April 28, 2025, at 12:30 PM (IST), to be held via video conferencing. The record/cut-off date for eligibility to vote is April 21, 2025, with remote e-voting open from April 25 (9:00 AM) to April 27 (5:00 PM) via NSDL. Two special businesses will be transacted: (1) Increase in authorised equity share capital from INR 50 crore (5 crore shares of INR 10 each) to INR 55 crore (5.5 crore shares of INR 10 each); (2) Preferential issue of up to 46,36,500 equity shares at INR 30 per share (face value INR 10) to 21 identified private investors, aggregating to about INR 13.91 crore. The issue price is set at INR 30, which is not less than the SEBI ICDR floor price, with relevant date being March 28, 2025.
If approved, the preferential issue will dilute existing shareholders by about 9.3% on a fully expanded basis and bring in roughly INR 13.9 crore from new investors at INR 30/share (a 200% premium to face value). The authorised capital hike also accommodates a pending merger scheme with Royal Spinwell and Developers Pvt Ltd (RSDPL) awaiting NCLT approval. Short-term share price may react to the dilution and new investor entry; existing holders must hold shares as of April 21, 2025 to vote.