EGM of the Company scheduled to be held on Tuesday, 24th February, 2026 at 1:00 pm through VC/OAVM.
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Awaiting price reaction for this filing.
Starlineps Enterprises has called an EGM on 24th February 2026 at 1:00 PM (via video conferencing) to seek shareholder approval on four key proposals. First, the company wants to raise its authorized share capital from Rs. 60 crore to Rs. 100 crore. Second, it plans to alter its main object clause to enter the fashion, garments, apparel, and lifestyle products business. Third, it proposes issuing up to 7 crore equity shares to non-promoters at Rs. 6 per share (Rs. 5 premium) on a preferential basis, raising Rs. 42 crore. Fourth, it plans to issue up to 48 crore convertible warrants to promoters and non-promoters at Rs. 6 per warrant, convertible within 18 months, aggregating Rs. 288 crore. Together, these represent a potential fundraising of up to Rs. 330 crore.
If approved, existing shareholders will face significant dilution as up to 55 crore new shares/warrants could be issued. The company is clearly preparing for a major business pivot into fashion and lifestyle products while raising substantial fresh capital. Investors should watch for the post-EGM outcome, the intended use of proceeds, and any lock-in implications.