Vinyl Chemicals Announces 40th AGM and Phantom Digital Effects Details Preferential Issue Plan
Vinyl Chemicals (India) Limited confirmed that its 40th Annual General Meeting (AGM) is scheduled to be held on Friday, June 5, 2026. The meeting will be accessible to shareholders through video conference or other audio-visual means. The details regarding the AGM were published in the Business Standard (English) All India Edition and Tarun Bharat (Marathi) Mumbai Edition.***
Phantom Digital Effects Ltd. Details Preferential Issue Plan
Phantom Digital Effects Limited issued a corrigendum regarding its Extra-Ordinary General Meeting (EGM) scheduled for Thursday, May 14, 2026. The EGM concerns a preferential issue of Compulsorily Convertible Debentures (CCDs) aggregating up to `11,570.00 Lakhs.The proceeds from this preferential issue are earmarked for three core areas: funding working capital for Phantom Digital Effects Ltd. and its subsidiaries (Tippet Studios Inc., Berkeley, California, USA, and Milk Visual Effects Ltd., London, UK); repayment of Financial Creditors; and general corporate purpose and issue related expenses.
The company provided a detailed object-wise fund allocation plan for the CCD utilization:
| Particular | ` in lakhs |
|---|---|
| Funding of working capital requirements of the Company and its subsidiaries viz | |
| 1. Phantom Digital Effects Ltd., India (Company) | 2370 |
| 2. Tippett Studios, Berkeley, California, USA (Subsidiary) | 1500 |
| 3. Milk Visual Effects Ltd., London, UK (Subsidiary) | 3800 |
| Total Working Capital Funding | 7670 |
| Repayment of Financial Creditors | 3700 |
| General Corporate and Issue Expenses | 200 |
| Total Utilization | 11570 |
Phantom Digital Effects Limited proposed utilizing the proceeds within two primary timelines: funding working capital for the Company and its subsidiaries within 12 months, and managing general corporate purposes within 12 months.
Regarding the proposed allottees, ZEE Entertainment Enterprises Limited, classified as a Public (Non-Promoter) category investor, is slated to receive the CCDs. The company noted that while there will be no immediate allotment of equity shares upon issuance of the CCDs, mandatory conversion of the maximum number of allotted CCDs (54,27,000 CCDs) into Equity Shares would allow the proposed allottee to hold a maximum of 24.95% of the total post-issue equity share capital of the Company on a fully diluted basis.
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Government of Tamil Nadu Auctions Securities
The Government of Tamil Nadu announced an auction to sell dated securities to the public, totaling an aggregate amount of Rs. 3000 crores. The securities include re-issues of 7.50% TNSGS 2032, 7.73% TNSGS 2036, and 7.80% TNSGS 2041.The government offered to sell Rs. 1000 crore via the re-issue of 7.50% TNSGS 2032, Rs. 1000 crore via the re-issue of 7.73% TNSGS 2036, and Rs. 1000 crore via the re-issue of 7.80% TNSGS 2041.
The securities will be issued for a minimum nominal amount of Rs. 10,000/- and multiples thereafter. The auction will be conducted by the Reserve Bank of India at its Mumbai Office (Fort) under a multiple price yield based format. The interest on these stocks will be paid semi-annually on November 6 and May 6.
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Suryoday Small Finance Bank to Hold Postal Ballot for Directorship Appointments
Suryoday Small Finance Bank Limited is conducting a Postal Ballot process for shareholders to vote on two Special Business resolutions:1. Approval for the appointment of Mr. Sunil Satyapal Gulati (DIN: 00016990) as an Independent Director, effective for a period of five consecutive years (March 12, 2026 to March 11, 2031).
2. Approval for the appointment of Mr. Alok Sethi (DIN: 00277481) as an Independent Director, also effective for a period of five consecutive years (March 12, 2026 to March 11, 2031).
The Bank confirmed that the voting will be done exclusively through the remote e-voting system. The e-voting period was scheduled to commence on Sunday, May 10, 2026, and conclude on Monday, June 08, 2026.
VINYLINDIA Stock Price Movement
On Friday, Vinyl Chemicals (India) Limited shares gained 5.31%, settling at ₹262.1. The stock was supported by a respectable total traded volume of 38,455 shares.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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