Mizzen Ventures Limited has approved a corrigendum to the notice convening its 1st Extra-Ordinary General Meeting (EOGM), scheduled for July 15, 2026, to incorporate recommendations from BSE Limited and modify the proposed preferential issue of securities. The board meeting, held on July 9, 2026, sanctioned changes to specific points in the explanatory statement, including the objects of the issue, pricing, and valuation details. The EOGM will be held via Video Conferencing at 11:30 A.M. IST to seek shareholder approval for the preferential allotment.

The preferential issue aims to raise ₹10 crore to fund the business, operational, and growth requirements of the company and its wholly-owned subsidiary, Mizzen Digital Private Limited. The allocation of funds is divided between the parent company and the subsidiary, with the majority directed towards sales, marketing, and technology initiatives. The company intends to utilize the proceeds within 12 months from the date of receipt of funds, though actual utilization may vary by +/-10% based on management estimates and market conditions.

The equity shares will be issued at a price of Rs. 125 per share, determined in accordance with Regulation 165 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The relevant date for price determination is June 15, 2026, which is 30 days prior to the date of passing the Special Resolution at the EOGM. The Articles of Association do not provide for a method resulting in a floor price higher than that determined under the ICDR Regulations.

Bhavesh M. Rathod, a Chartered Accountant and Registered Valuer – SFA, conducted the valuation for the issue. The valuation report is available on the company's website. Additionally, a certificate from a Practicing Company Secretary, certifying compliance with SEBI (ICDR) Regulations, has been provided and is accessible online. All other terms of the original EOGM notice remain unchanged except for the modifications specified in the corrigendum.

Utilization of Issue Proceeds

The company has outlined the specific allocation of the ₹10 crore proceeds across various operational heads.

Mizzen Ventures Limited has scheduled an Extraordinary General Meeting (EGM) on July 15, 2026, to seek shareholder approval for raising ₹10 crore through the preferential allotment of 8,00,000 equity shares to non-promoter investors. The Preferential Issue Committee approved the issuance at a price of ₹125 per share, a premium of ₹115 over the face value of ₹10, during a meeting held on June 18, 2026. The capital raise is subject to shareholder approval and compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The committee also approved an increase in the authorised share capital from ₹22,10,00,000 to ₹22,80,00,000. This involves creating an additional 7,00,000 equity shares of ₹10 each, increasing the total authorised capital to 2,28,00,000 shares. To facilitate these proposals, the company has scheduled an Extraordinary General Meeting (EGM) for July 15, 2026, at 11:30 A.M. via video conferencing.

Mr. Nuren Nirmal Lodaya, Practicing Company Secretary, has been appointed as the scrutinizer to oversee the e-voting process. The trading window, which was closed from April 15, 2026, for designated persons and insiders, will reopen 48 hours after the conclusion of the committee meeting. The intimation was signed by Sandeep Reginald Dsilva, Managing Director & CFO.

Preferential Allotment Details

Key Meeting Dates