Virtuoso Optoelectronics Limited updated its Extra-Ordinary General Meeting (EGM) notice on September 21, 2026, to clarify the utilization of proceeds from a proposed preferential issue. The company seeks to raise ₹84.99 crore from Qualified Institutional Buyers (QIBs) to fund working capital and capacity expansion.

Utilization of Proceeds

The company detailed a revised schedule for deploying the raised funds, with timelines commencing from the date of filing the Return of Allotment with the Registrar of Companies (ROC).

The capital expenditure of ₹17.97 crore is earmarked for procuring plant and machinery from China. This investment aims to increase the annual production capacity of deep freezer units from 1,50,000 units to 2,50,000 units. The expansion will take place at the company’s Plant 7 facility in Nashik.

Pricing and Regulatory Framework

The equity shares are listed on BSE Limited and NSE. Since the issue is restricted to fewer than five QIBs, the allotment price is determined in accordance with Regulation 164(4) of the SEBI (ICDR) Regulations. The price will not be less than the 10-trading-day volume-weighted average price (VWAP) of shares quoted on the BSE preceding the relevant date.

The company noted that because the shares have been listed for more than 90 trading days and the allotment is to less than five QIBs, certain re-computation requirements under Regulations 164(3) and 167(5) do not apply. Disclosures under Regulation 163(1)(g) and (h) are also exempted.

Investor Details

The update identified the ultimate beneficial owners for the proposed allottees:

• ICICI Prudential SmallCap Fund: Post-issue holding of 10,93,439 shares (2.98%)
• ICICI Prudential Retirement Fund-Hybrid Aggressive Plan: Post-issue holding of 2,98,210 shares (0.81%)
• Clarus Capital II: Ultimate beneficial owner Mr. Soumendra Lahiri (Partner and CIO), with a post-issue holding of 2,98,210 shares (0.81%)

The EGM is scheduled for September 24, 2026. All other terms and conditions in the original notice remain unchanged.

Virtuoso Optoelectronics Limited will hold its 11th Annual General Meeting on Wednesday, September 30, 2026, at 11:00 am. The meeting will be conducted through Video Conference or Other Audio-Visual Means (OAVM) in compliance with Ministry of Corporate Affairs and SEBI circulars.

Meeting Details

The company has dispatched the Annual Report for FY25-26 along with the notice convening the AGM electronically to members with registered email addresses. For members who have not registered their email IDs, a letter containing a web link and QR code to access the documents is being sent.

The Annual Report and AGM notice are available on the company’s website and the Central Depository Services (India) Limited (CDSL) portal.

E-Voting Process

Shareholders holding shares as on the cut-off date of Wednesday, September 23, 2026, are eligible to vote. The remote e-voting period begins on Sunday, September 27, 2026, at 9:00 am and ends on Tuesday, September 29, 2026, at 5:00 pm.

Members who have already cast their votes via remote e-voting may attend the AGM but cannot vote again. Those attending via VC/OAVM who have not voted remotely can cast their votes during the meeting.

For queries regarding e-voting, members can contact CDSL helpdesk or refer to the FAQs on the CDSL website.