With reference to our Corrigendum dated April 17, 2025, enclosures were inadvertently omitted from our announcement. Corrigendum along with updated EGM Notice is herewith uploaded.
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Royal Cushion Vinyl Products Limited has issued a corrigendum to its EGM notice dated April 3, 2025, after BSE raised observations on the company's preferential issue application. The EGM is scheduled for Monday, April 28, 2025 at 12:30 PM via video conferencing. The corrigendum mainly updates pre-preferential and post-preferential shareholding percentages for two proposed allottees — Murij Manghnani Private Trust and Aesha Gautam Agicha. Two key resolutions will be tabled: (1) increasing authorised equity share capital from INR 50 crore to INR 55 crore (adding 50 lakh equity shares of INR 10 each), and (2) issuing up to 46,36,500 equity shares at INR 30 per share on a preferential basis to 21 investors, aggregating up to INR 13.90 crore. E-voting window is from April 25 to April 27, 2025, with cut-off date of April 21, 2025.
Shareholders should review the updated shareholding disclosures for the two amended allottees and assess dilution from the preferential issue (up to 46.36 lakh new shares). The capital raise at INR 30 per share could have a mild dilutive effect but signals fundraising activity. Voting on key resolutions at the April 28 EGM will decide both the authorised capital hike and the preferential allotment.