Zodiac Clothing Company Limited (ZCCL) has announced the cancellation of its planned preferential issue of equity shares due to unforeseen circumstances. The company had initially proposed to issue 13,44,086 equity shares at Rs. 111.60 per share to its promoters.

Reason for Cancellation

The cancellation comes in the wake of the sudden and unfortunate demise of Mr. Mohamed Anees Noorani, the company's Promoter and Chairman, on July 29, 2025. Mr. Noorani was one of the proposed allottees in the preferential issue.

Details of the Cancelled Issue

Timeline of Events

1. July 24, 2025: ZCCL received in-principle approval from BSE and NSE for the preferential issue.
2. July 29, 2025: Mr. Mohamed Anees Noorani passed away.
3. August 8, 2025: ZCCL officially announced the cancellation of the preferential issue.

Impact on the Issue

Mr. Salman Yusuf Noorani, Vice Chairman & Managing Director and the other proposed allottee, did not subscribe to the issue due to the bereavement of losing his elder brother, Mr. Mohamed Anees Noorani.

The company was unable to complete the issue within the statutory 15-day period following the in-principle approval. As a result, no shares were subscribed to or allotted under this preferential issue.

Company Statement

In its official communication to the stock exchanges, Zodiac Clothing Company Limited stated, "In view of the above, please be informed that no shares have been subscribed nor allotted by the Company under the aforesaid Preferential Issue."

Upcoming Board Meeting

In a separate announcement, ZCCL has informed that a meeting of the Board of Directors is scheduled for Wednesday, August 13, 2025. The board will consider and approve the unaudited financial results (standalone and consolidated) for the quarter ended June 30, 2025.

The company has also noted that the 'Trading window' will remain closed until 48 hours after the declaration of the said results, in compliance with regulatory requirements.

Investors and stakeholders of Zodiac Clothing Company Limited will be keenly watching for further updates from the company, particularly regarding its financial performance and any potential changes in leadership following these recent events.

Zodiac Clothing Company Limited announced the passing of its Chairman and Promoter, Mohamed Anees Noorani, on July 29, 2025. The news marks the end of an era for the company, as Noorani's association with Zodiac spanned over five and a half decades.

A Legacy of Leadership

Mohamed Anees Noorani joined the House of Zodiac in 1968, embarking on a journey that would see him play pivotal roles in the company's growth and development. His leadership trajectory included:

• Managing Director from March 1994 to February 2017
• Vice Chairman from 2002 to 2019
• Chairman from February 2020 until his passing

Industry Contributions

Beyond his significant contributions to Zodiac Clothing, Noorani was a prominent figure in the Indian business landscape. His extensive involvement in various industry and public institutions included:

• Director on the Board of Indian Oil Corporation
• President of the Indo-German Chamber of Commerce
• Member of the Managing Committees of:
  • Apparel Export Promotion Council
  • Bombay Chamber of Commerce & Industry
  • Clothing Manufacturers' Association of India
  • Indo-German Consultative Group
• Board member of the National Institute of Fashion Technology (NIFT)
• Part of the Steering Group on Investment & Growth in the Textile Industry, set up by the Government of India

A Tribute to Vision and Leadership

The Board and employees of Zodiac Clothing Company have expressed their heartfelt condolences, paying tribute to Noorani's remarkable leadership and visionary guidance. His invaluable contributions over the decades have left an indelible mark on the company and the Indian textile industry at large.

As the company faces this significant transition, the legacy of Mohamed Anees Noorani's leadership and his extensive industry involvement will undoubtedly continue to influence Zodiac Clothing's future direction and the broader textile sector in India.

The company made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating its commitment to transparent communication with stakeholders during this period of change.