Pursuant to Regulation 30 of SEBI LODR Regulations, 2015 please find attached herewith notice of EGM to be held on June 11, 2026.
VIPCLOTHNG · price
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VIP Clothing Limited has called an Extraordinary General Meeting on June 11, 2026 via video conferencing to seek shareholder approval for issuing up to 2.12 crore convertible warrants at Rs. 22.50 per warrant, raising a total of Rs. 47.70 crore. The warrants are being offered on a preferential basis to 16 allottees including promoter group members (Sunil Jaykumar Pathare, Kapil Jaykumar Pathare, Kanishk Sunil Pathare, and Avyukta Kapil Pathare receiving 1.68 crore warrants combined) and non-promoter investors. Each warrant converts into one equity share of Rs. 2 face value within 18 months. Payment is 25% on allotment and 75% on conversion. The floor price of Rs. 22.50 was determined as per SEBI ICDR Regulations based on May 12, 2026 as the relevant date.
The warrant issue will dilute existing shareholders significantly. Promoter holding will increase substantially as promoters are receiving approximately 79% of the total warrants. The Rs. 47.70 crore funds raised will support business expansion and meet increased working capital requirements.