VIP Clothing convenes EGM on June 11, 2026, to seek approval for a preferential issue of 2.12 crore warrants convertible into equity shares, raising up to ₹47.70 crore.
The issue is priced at ₹22.50 per warrant, with 25% payable on allotment and 75% upon conversion within 18 months, primarily for working capital and general corporate purposes.
Allottees include promoters Sunil Pathare (45 lakh warrants) and Kapil Pathare (45 lakh warrants), promoter group members, and 12 non-promoter individuals and entities.
The floor price was determined using May 12, 2026, as the relevant date, with the issue requiring compliance with SEBI ICDR Regulations and Companies Act, 2013 provisions.