Filatex Fashions Approves Key Shareholder Matters, Increases NRI Investment Limits, and Names RTA for FCCB Issuance
Filatex Fashions Ltd’s Board of Directors met on April 28, 2026, and approved several key corporate actions concerning investments, bond issuances, and shareholder structure. The board meeting commenced at 11:00 AM IST and concluded at 12:00 PM IST.Among the material decisions, the board approved significant increases in investment limits for non-resident investors. The board approved increasing the aggregate investment limit for Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) from 10% to 24% of the paid-up equity share capital. Additionally, the board approved raising the investment limit for Foreign Portfolio Investors (FPIs) from 24% to the sectoral cap, subject to required shareholder approvals.
Registrar and Transfer Agent Appointment for FCCBs
The company also advanced plans for the issuance of Foreign Currency Convertible Bonds (FCCBs). The board approved the appointment of M/s. Accurate Securities & Registry Private Limited to serve as the Registrar and Transfer Agent (RTA). This appointment is intended to manage registry, facilitate investor servicing, and handle related compliance activities for the proposed FCCB issuance.The details related to the RTA appointment are as follows:
| Event Detail | Information |
|---|---|
| Reason for appointment | Appointment of M/s. Accurate Securities & Registry Private Limited as RTA to ensure efficient registry management, investor servicing, and regulatory compliance for the proposed FCCB issuance. |
| Effective Date | April 28, 2026 |
Promoter Status Reclassification
In a decision concerning promoter status, the board considered and approved requests submitted by Mr. Prashant Kumar Sethia and Mr. Rajkumar Sethia. These requests sought reclassification from the ‘Promoter and Promoter Group’ category to the ‘Public’ category. The board noted that No-Objection Letters, both dated April 09, 2026, had been received from BSE Limited and National Stock Exchange of India Limited, and recommended these for shareholder approval.Meeting Logistics and Oversight
The board further took measures to ensure proper governance for upcoming shareholder decisions. It approved the appointment of Richi Prerak & Associates, a Practicing Company Secretary, to serve as the Scrutinizer for the e-voting process during the ensuing Extra-Ordinary General Meeting (EGM).The board also approved convening an Extra-Ordinary General Meeting on May 21, 2026, to seek shareholder approval on the various proposed matters, including the enhanced investment limits and promoter status reclassification. The draft notice and explanatory statement for the EGM were also approved.
FILATFASH Stock Price Movement
As of 12:29 PM, shares of Filatex Fashions Limited are slipping by 3.45% in live trading, currently at ₹0.28. The stock continues to see high volume, with 6.18 million shares traded throughout the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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