Lippi Systems Limited has scheduled an Extraordinary General Meeting (EGM) on June 25, 2024, to seek shareholder approval for a preferential issue of convertible equity warrants and alterations to its capital structure. The meeting will be held via video conferencing (VC) or other audio-visual means (OAVM) at 10:30 A.M. (IST).

The board proposes to issue up to 1,30,00,000 convertible equity warrants on a preferential basis to five individuals: Vinesh Shivji Dholu, Jagdish Shivji Dholu, Shivji Karamrashi Dholu, Jagruti Vinesh Dholu, and Parul Jagdish Dholu. Currently classified as non-promoters, these individuals will transition to the promoter category following an open offer. The preferential allotment will significantly increase the promoter group's shareholding.

Utilization of Issue Proceeds

The company aims to raise approximately ₹36.946 crore through the issuance of these warrants. The funds are allocated to meet capital expenditure and working capital requirements, as well as for general corporate purposes. The tentative timeline for utilizing these proceeds extends up to December 31, 2027.

Changes in Shareholding Pattern

Following the preferential issue and the subsequent open offer, the total shareholding of the promoter group is expected to rise to 1,00,67,969 shares. This represents a substantial increase from the pre-issue holding of 36,17,769 shares. The total paid-up equity share capital of the company will consequently increase to 1,35,00,000 shares.

Agenda for the EGM

Shareholders will vote on two primary resolutions during the meeting. The first resolution concerns the increase in the authorized share capital and the consequent alteration of the Memorandum of Association. The second resolution seeks approval for the preferential issue of convertible equity warrants for cash consideration.

E-Voting Schedule

Members can cast their votes through e-voting. The e-voting period begins on June 22, 2024, at 09:00 A.M. and ends on June 24, 2024, at 05:00 P.M. The cut-off date for determining shareholder eligibility is June 16, 2024.

Lippi Systems Limited has notified BSE Limited of a Board of Directors meeting scheduled for Monday, May 18, 2026, at the company's registered office. The intimation was issued on May 13, 2026, pursuant to Regulation 29 read with other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Agenda Items for the Board Meeting

The board meeting has been convened to consider and approve a range of significant corporate actions. The agenda covers fund raising, changes to the share capital structure, and related shareholder approval processes. The following table outlines the key items on the agenda:

Fund Raising and Capital Structure

A central item on the agenda is the consideration of a fund raising proposal through the further issuance of equity shares, convertible warrants, convertibles, and/or any other eligible securities of the company by way of a preferential issue. This proposal is subject to such statutory and regulatory approvals as may be applicable, including the approval of the company's shareholders. Additionally, the board will consider increasing the authorised share capital of the company and making a consequential amendment to the capital clause of the Memorandum of Association, subject to applicable law and requisite approvals from shareholders, government, regulatory, and statutory authorities.

Extraordinary General Meeting Preparations

In connection with the proposed fund raising and capital restructuring, the board will also deliberate on fixing the day and date of an Extraordinary General Meeting to seek shareholders' approval. The board will further consider approving the draft notice of the EGM in respect of the aforesaid proposals and related matters, if approved. The appointment of scrutinisers for the proposed EGM is also included as a formal agenda item.

The intimation was signed by Nandlal Jaigopal Agrawal, Managing Director of Lippi Systems Limited, and submitted to BSE Limited on May 13, 2026.