Filing of revised outcome of BM held on 18.05.2026 due to clerical error in name of one allotee and clarification for same mentioned in the attached file.
VIPCLOTHNG · price
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VIP Clothing Ltd has filed a revised outcome of its Board Meeting held on May 18, 2026, correcting a typographical error in the name of one allottee — 'Trikaya Capital Partners Limited' should read 'Trikaya Capital Partners Private Limited'. The board approved the issuance of up to 2,12,00,000 convertible warrants on a preferential basis at Rs. 22.50 per warrant, aggregating Rs. 47.70 crore. The warrants are convertible into equity shares of face value Rs. 2 within 18 months, with 25% payable upfront and 75% on conversion. Allottees include promoter group members (Sunil Pathare, Kapil Pathare, Kanishk Pathare, Avyukta Pathare) and 12 non-promoter investors. An EGM is scheduled for June 11, 2026 to seek shareholder approval for the preferential issue.
The preferential issuance of warrants will dilute existing shareholders upon conversion, though it brings Rs. 47.70 crore in capital. Promoters are taking a significant portion (1.68 crore warrants out of 2.12 crore), signaling confidence. The corrected allottee name is a minor administrative fix with no financial impact.