Notice of Extra-ordinary General Meeting of the Company to be held on Thursday, 05th February, 2026
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Sheetal Cool Products Limited has called an Extraordinary General Meeting (EGM) on Thursday, February 5, 2026, at 12:00 PM through video conferencing to seek shareholder approval for issuing up to 8,40,000 fully convertible warrants on a preferential basis to non-promoters. The warrants will be issued at ₹317 each, potentially raising up to ₹26.63 crores, with the proceeds earmarked for deploying deep freezers to expand retail outlet coverage (₹15 crore) and for advertising and marketing activities (₹11.62 crore). Each warrant carries the right to subscribe to one equity share of ₹10 face value, convertible within 18 months, with 25% payable upfront and 75% on conversion. The issue price is higher than the SEBI ICDR-determined floor price, and promoters/directors are not participating in the issue. Assuming full conversion, promoter shareholding will dilute from 65.59% to 60.74%.
If approved, this fundraise will support the company's retail expansion and brand-building efforts, but it will dilute promoter stake by about 4.85 percentage points. The ₹317 issue price sets a clear reference level for the stock and may influence short-term price action around the EGM date.