Pursuant to Regulation 30 of SEBI LODR, Regulations 2015 it is hereby informed that Board has approved the preferential issue by way of issue of Warrants and other related matters.
VIPCLOTHNG · price
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VIP Clothing's board has approved issuance of 2,12,00,000 convertible warrants at Rs. 22.50 per warrant (including Rs. 20.50 premium) to raise Rs. 47.7 crore. The warrants are convertible into equity shares within 18 months, with 25% payable upfront and 75% on conversion. Major allottees include Promoters Sunil Pathare and Kapil Pathare (45 lakh warrants each), Promoter Group including Kanishk Pathare and Avyukta Pathare (39 lakh each), and Non-Promoters including Trikaya Capital Partners, Shokin Packaging, and Mukesh Gobindram Kimtani. An EGM has been scheduled for June 11, 2026 to seek shareholder approval for this preferential issue.
Significant equity dilution likely as warrants convert, with promoters holding roughly 79% of the issue. Shareholders should note the Rs. 47.7 crore fundraising will increase share count substantially upon conversion.