We wish to inform you that Register of Members and Share Transfer books of the Company will remain closed from Saturday 06th June 2026 to Monday, 15th June 2026 (both days inclusive) ....
Awaiting price reaction for this filing.
Classic Filaments Limited announced an EGM on June 15, 2026 via video conferencing to vote on several key proposals. The most significant item is a preferential equity issue of up to 47,17,740 shares (43.56% post-issue capital) at ₹51.50 per share to raise ₹24.29 crore from 53 non-promoter allottees. The company also seeks to double its authorized share capital from ₹7.5 crore to ₹15 crore and diversify its object clause into auto parts manufacturing, engineering/structural steel, metals trading, software/IIoT, fintech, and aluminum casting. Additionally, borrowing limits and investment thresholds are proposed to be increased to ₹100 crore each. Five director appointments including regularization of the Chairman & MD are also on the agenda.
The preferential issue will cause significant dilution (43.56%) to existing shareholders. The diversification into new business lines like auto parts, fintech, and aluminum casting signals a strategic pivot. Increased borrowing powers to ₹100 crore could raise leverage risk. Book closure from June 6-15, 2026 will determine the record date for voting eligibility.