EGM notice update: preferential issue to QIBs, ICICI funds named as investors
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Update to EGM notice for Sept 24, 2026. Preferential issue to up to 5 QIBs raising about Rs 84.99 crores. Funds: Rs 46 cr for working capital, Rs 17.97 cr for plant and machinery from China (to expand deep freezer capacity from 1.5 lakh to 2.5 lakh units per year), Rs 21.02 cr for general corporate purpose. Pricing based on 10-day BSE VWAP. Investors include ICICI Prudential SmallCap Fund, ICICI Prudential Retirement Fund, and Clarus Capital II.
Clarifies fundraising with marquee investors like ICICI Prudential. Capacity expansion could lift future revenues. Lock-in rules apply per SEBI norms.