CPS Shapers shareholders approve IPO proceeds variation

CPS Shapers Limited has received shareholder approval to vary the objects and terms of utilization for its Initial Public Offering (IPO) proceeds. The resolution was passed via a postal ballot process that concluded on June 13, 2026, with 100% of the valid votes cast in favour of the proposal. This approval allows the company to reallocate unutilized funds from specific original objects to funding working capital requirements, ensuring efficient capital management.

The special resolution sought consent to transfer unutilized amounts designated for the purchase of commercial vehicles, solar power systems, and IT software upgrades. The voting results showed strong support, with 1,674,750 votes polled in favour and zero votes against, meeting the required threshold of more than 90% of shareholding. The remote e-voting was conducted from May 15, 2026, to June 13, 2026, under the supervision of Ms. Deepali Kaushik, an Advocate appointed as the scrutinizer.

Utilization of IPO Proceeds

According to the scrutinizer's report, the company had raised a total of ₹1110.00 lakh through the IPO. As of the cut-off date of May 08, 2026, ₹1065.79 lakh, or 96.02% of the total proceeds, had been utilized. The remaining unutilized balance of ₹44.21 lakh was subject to the approved variation.

The table below details the original objects, the amounts raised, utilized, and the specific variations approved by shareholders:

Sr No	Original Object	Total Amount Raised (₹ in Lakhs)	Amount Utilised (₹ in Lakhs)	Amount Unutilized (₹ in Lakhs)	Details of Variation
1	Purchase of Plant and Machinery	178.68	178.68	NIL	No Change
2	Purchase of Commercial Vehicle	9.53	NIL	9.53	9.53 Lakhs allocated to Object 6
3	Funding of Solar Power System	21.00	NIL	21.00	21.00 Lakhs allocated to Object 6
4	Upgradation of IT Software	18.20	4.52	13.68	13.68 Lakhs allocated to Object 6
5	Repayment of borrowings	167.01	167.01	NIL	No Change
6	Funding working capital requirements	405.58	405.58	NIL	Received 9.53, 21.00, and 13.68 Lakhs from Objects 2, 3, and 4
7	General corporate purposes	182.00	182.00	NIL	No Change
8	IPO Issue Expenses	128.00	128.00	NIL	No Change
Total		1,110.00	1,065.79	44.21

Voting Details and Process

The postal ballot voting process was managed by M/s. Bigshare Services Private Limited. A total of 13 members participated in the remote e-voting. The company confirmed that no physical ballot forms were dispatched or received in accordance with relaxations provided by the Ministry of Corporate Affairs and the Securities and Exchange Board of India. The results of the postal ballot were declared on June 13, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.14%	+6.14%	-2.76%	-4.20%	+13.38%	+111.15%

CPS Shapers Limited has secured in-principle approval from the National Stock Exchange of India (NSE) to raise funds through a preferential issue of equity shares. The exchange granted the approval via letter reference NSE/LIST/55263 dated June 11, 2026, allowing the company to issue 31,275 equity shares. This capital raise is critical for the company's funding proposal, enabling it to allot shares to both promoters and non-promoters at a predetermined price.

The preferential issue involves equity shares with a face value of ₹10 each, priced at ₹1,088 per share. The approval is subject to strict compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Companies Act, 2013. The company must fulfill several conditions, including filing a listing application immediately after allotment and obtaining necessary statutory approvals from authorities such as SEBI, RBI, and MCA.

Key Details of the Preferential Issue

The following table outlines the specific parameters of the approved share issue:

Particulars	Details
Regulatory Authority	NSE
Approval Reference	NSE/LIST/55263 dated June 11, 2026
Number of Equity Shares	31,275
Face Value	₹10 per share
Issue Price	₹1,088 per share
Allottees	Promoters and non-promoters
Validity Period	15 days from EGM date (June 12, 2026)

Compliance and Monitoring Conditions

The NSE has mandated that cps shapers strengthen its internal controls to monitor trades executed by the proposed allottees. Specifically, the company must obtain an undertaking from allottees confirming they will not engage in intra-day trading or sell any shares in the company until the allotment date. This measure is intended to prevent non-compliances regarding trades executed by allottees in contravention of SEBI (ICDR) Regulations.

The responsibility for verifying this compliance lies solely with the issuer company. The NSE warned that any non-compliance observed post-allotment could impact the listing of the issued shares. The exchange reserves the right to withdraw the in-principle approval if the information provided is found to be incomplete, incorrect, or misleading.