VIP Clothing Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on Jun 11, 2026
VIPCLOTHNG · price
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VIP Clothing Limited has called an EGM on June 11, 2026 to seek shareholder approval for issuing up to 2.12 crore convertible warrants at Rs. 22.50 per warrant, raising up to Rs. 47.70 crore. The warrants are convertible into equal number of equity shares (face value Rs. 2 each) within 18 months. Promoters and Promoter Group members (Sunil Jaykumar Pathare, Kapil Jaykumar Pathare, Kanishk Sunil Pathare, Avyukta Kapil Pathare) will receive 1.68 crore warrants (79% of the issue). Remaining 44 lakh warrants will go to 12 non-promoter allottees including individuals and companies like Trikaya Capital Partners and Shokin Packaging. 25% of issue price is payable upfront; balance 75% payable at conversion. Purpose stated is to expand business operations and meet increased fund requirements.
This is a significant preferential issuance that will dilute existing shareholders' stakes. Promoter holding is set to increase substantially. The Rs. 47.70 crore fund raise could support business growth but warrants conversion will increase share count, potentially impacting EPS and stock price.