VIP Clothing Issues Corrigendum Providing Pricing and Undertaking Updates for Extraordinary General Meeting
VIP Clothing Limited has issued a Corrigendum to the Notice of its Extraordinary General Meeting (EGM), which is scheduled to be held on Thursday, June 11, 2026. The Corrigendum updates several key points regarding the EGM, addressing matters related to fund utilization, pricing certificates, and contractual undertakings for shareholders.The original notice convening the EGM was circulated on May 20, 2026, relating to the meeting set for June 11, 2026. The Corrigendum provides additional details and clarifications across various items of the meeting agenda.
Key Updates to the EGM Notice
The updates specified in the Corrigendum include specifics concerning the objects of the issue, pricing justification, ultimate beneficial ownership, and mandatory undertakings for allotment proceeds.Regarding the Objects of Issue (Item 2), the updated notice specifies that should the issue proceeds not be fully utilized, the company will maintain these funds through bank deposits or other short-term fund deposits in scheduled commercial banks as permitted by applicable laws and the Board of Directors.
In relation to pricing and justification for the share allotment, the Corrigendum provides access links on the company’s website for related documentation:
- Pricing Certificate: The certificate issued by Abhishek Wagh, Proprietor of M/s. Abhishek Wagh & Associates (Membership No. 65319 CP No. 26968) has been made available online.
- Valuation Report: The report from CA Dhananjay Walke, Registered Valuer of V S Jadon & Co Valuers LLP (IBBI Registration No.: IBBI/RV/02/2020/13637) is accessible on the company’s website.
Promoter Status and Undertakings
The EGM notice addresses the identity of ultimate beneficial owners, confirming that Ms. Avyukta Kapil Pathare's status in the table for the pre-issue investment is 'Promoter Group'.Additionally, the Corrigendum clarifies two specific undertakings (Item 16(d) and 16(e)) concerning warrants allotted under the Promoter and Non-Promoter Preferential Issue. The updates state:
- The company shall re-compute the price of the warrants allotted under the Promoter and Non Promoter Preferential Issue, in accordance with SEBI ICDR Regulations where required.
- If the amount payable for this price re-computation is not paid within the stipulated time under SEBI ICDR Regulations, the respective warrants will remain locked-in until payment is made by the warrant holder.
The Corrigendum emphasizes that all other contents of the original EGM Notice remain unchanged and constitutes an integral part of the notice. The updated information regarding the certificates from practicing company secretaries and the pricing details have been posted on the VIP Clothing Limited website for reference.
VIPCLOTHNG Stock Price Movement
VIP Clothing Limited shares closed lower today, shedding 0.39% or ₹0.10 to settle at ₹25.91. The stock traded a total volume of 68,430 shares during the day's session.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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