Classic Filaments Limited secured shareholder approval for a preferential issue of equity shares and an increase in authorized share capital at its Extraordinary General Meeting (EGM) held on June 15, 2026. The meeting, conducted via video conferencing, also ratified the appointment of key directors, including Mr. Vikkas Bansal as Chairman and Managing Director. These resolutions are aimed at strengthening the company's capital base and governance structure.

Key Resolutions and Voting

The voting results, scrutinized by M/s. Amit Saxena & Associates, confirmed the approval of all twelve special business items. Shareholders sanctioned the alteration of the Memorandum of Association (MOA) to facilitate the increase in authorized share capital. Additionally, the company received approval to raise its borrowing limits and the threshold for loans, guarantees, and investments under Section 186 of the Companies Act, 2013.

Director Appointments

The EGM regularized the appointments of several senior management personnel. Mr. Vikkas Bansal was appointed as Chairman and Managing Director, while Mr. Tarun Jain was regularized as Executive Director. Three Independent Directors—Mr. Maneesh Gupta, Mr. Sushil Aggarwal, and Ms. Sathi Kundu—were also regularized during the meeting.

Governance and Compliance

The meeting proceedings were conducted in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Amit Saxena, Proprietor of M/s. Amit Saxena & Associates, served as the Scrutinizer for the e-voting process. The statutory registers and relevant documents were made available for inspection by the members.

The EGM commenced at 12:30 P.M. and concluded at 12:54 P.M. with 25 members in attendance. The detailed voting results and the Scrutinizer's Report have been submitted to the exchange.

Classic Filaments Limited has issued a corrigendum to its Extra-Ordinary General Meeting (EGM) notice regarding a preferential issue of 47,17,740 equity shares. The company clarified that the issue will be made to 53 non-promoter allottees and will not result in any change in control or management. The EGM is scheduled to be held on June 15, 2026, through Video Conferencing. The corrigendum was published in the Financial Express (English and Gujarati editions) on June 05, 2026, pursuant to observations received from BSE Limited.

The preferential issue constitutes 43.56% of the post-issue paid-up equity share capital. The company stated that none of the proposed allottees are currently part of the promoter or promoter group, nor will they acquire control post-allotment. The aggregate amount raised through the issue is ₹24,29,63,610.

Objects of the Issue

The proceeds will be utilized for the acquisition of Procasts Engineering Private Limited and Solven Power Systems Private Limited, expansion of existing business, and general corporate purposes. The acquisitions are expected to facilitate diversification and strengthen manufacturing capabilities.

Proposed Allottees

The company provided a revised list of 53 proposed allottees, all classified as non-promoters. The list includes entities such as Tvisha Corporate Advisors LLP and Novus Capital Advisors Private Limited, as well as individuals like Brajesh Kumar Gupta and Satish Kumar Awasthi. The corrigendum also corrected the Permanent Account Number (PAN) for allottee Abhed Goel to AADPG4923D.

The issuance of shares is subject to shareholder approval at the EGM.