VIP Clothing board approved a preferential issue of 2.12 crore warrants at ₹22.50 each, raising ₹47.7 crore from promoters and non-promoters.
The warrants are convertible into equity shares within 18 months, requiring 25% upfront payment and 75% upon conversion.
An EGM is scheduled for June 11, 2026, to seek shareholder approval for the preferential issue.
A committee was formed to finalize documents and oversee the allotment process for the warrant issue.