Lippi Systems has amended the disclosure regarding the utilization of preferential issue proceeds ahead of its Extra Ordinary General Meeting (EGM) scheduled for June 14, 2026. The corrigendum, issued on June 05, 2026, provides a specific bifurcation of the total ₹36.946 crore funds, separating capital expenditure and working capital requirements which were previously combined.

The revised allocation designates ₹30.7514 crore to meet capital expenditure and ₹2.50 crore for working capital requirements. Additionally, ₹3.6946 crore has been earmarked for general corporate purposes. All utilization is tentatively scheduled to be completed by December 31, 2027.

Utilization of Proceeds

The company detailed the revised deployment of funds in a structured format submitted to the exchange.

The corrigendum clarifies that while the classification of objects has been modified, the total issue size remains ₹36.946 crore. There is no change to the terms of the preferential issue, the EGM date, the record date, or the remote e-voting period. The document notes that the specified amounts may deviate by +/- 10% depending on future circumstances, in line with BSE Notice No. 20221213-47 dated December 13, 2022.

The updated notice has been dispatched to shareholders and is available on the company's website and the stock exchange. The EGM will be held on Sunday, June 14, 2026, at 11:30 A.M. IST at the registered office in Ahmedabad.

Lippi Systems Limited appointed Ms. Mansi Hardik Shah as an Additional Director (Non-Executive Independent Director) effective June 04, 2026, and reconstituted its board committees following the cessation of Mr. Govindlal C. Thakkar. The Board of Directors approved these changes at its meeting held on June 04, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appointment and cessation are part of routine corporate governance updates to ensure committee compositions meet regulatory requirements.

Ms. Mansi Hardik Shah (DIN: 00031947) brings over two decades of experience in financial advisory and wealth management to the role. A qualified Chartered Accountant since 2004, she currently serves as Director of Aarvi Data Analytics Private Limited and Aarvi Management Services Private Limited. She will hold office until the ensuing Annual General Meeting. The company affirmed that she is not debarred from holding the directorship by any SEBI order or other authority.

Mr. Govindlal C. Thakkar (DIN: 07531165) completed his term as Independent Director effective May 30, 2026. Consequently, he ceased to be the Chairman of the Audit Committee, Nomination & Remuneration Committee, and Stakeholders' Relationship Committee. The company disclosed that there were no inter-se relationships among directors or key managerial personnel requiring disclosure.

Following these changes, Lippi Systems Limited reconstituted its key board committees. Ms. Mansi Hardik Shah has been appointed Chairman of all three committees. The reconstitution aligns with the requirements of the Companies Act, 2013, and SEBI (LODR) Regulations, 2015.

Committee Composition