Sirca Paints India to Hold EGM on August 5, 2025, for Preferential Issue of Equity Shares

Sirca Paints India Limited has announced that an Extra-Ordinary General Meeting (EGM) of its members will be held on Tuesday, August 05, 2025, at 11:30 A.M. IST via Video Conferencing/Other Audio-Visual Means. The primary agenda is to seek approval for the issuance of 20,11,000 equity shares on a preferential basis to certain identified non-promoter persons, aggregating up to ₹76.31 crore. The dispatch of the Notice of the Extra-Ordinary General Meeting ("EGM") to the members of the Company, will be initiated today i.e., on August 14, 2025.

Preferential Issue DetailsParticulars

Details

Total Number of Equity Shares to be Issued

20,11,000Face Value per Equity Share

₹10Issue Price per Equity Share

₹379.50 (including a premium of ₹369.50)Total Consideration

₹76,31,74,500 (₹76.31 Crore)Category of Allottees

Non-PromotersRelevant Date for Price Determination

July 06, 2025

Special Business: Preferential Issue of Equity SharesThe EGM will address the special resolution to approve the issuance of up to 20,11,000 fully paid-up equity shares with a face value of ₹10 each, at a price of ₹379.50 per share (inclusive of a premium of ₹369.50 per share). This aggregates to ₹76,31,74,500 to identified investors who are not part of the "Promoter/ Promoter Group" of the company.Proposed AllotteesThe proposed allottees include a mix of entities and individuals, with Sirca S.P.A. being allotted the maximum number of shares (2,63,500) for a consideration of ₹9.99 crore. Other notable allottees include N-3 Shares and Stock Vision Private Limited.Terms and Conditions of the Preferential IssueThe equity shares issued will be fully paid up and rank pari passu with the existing equity shares of the company. These shares will be listed and traded on BSE Limited and National Stock Exchange of India Limited. The issued shares will be subject to a lock-in period as specified in Chapter V of the SEBI ICDR Regulations. Allotment will be in dematerialized form within 15 days from the date of passing the special resolution, subject to necessary approvals.Resolutions and AuthorizationsThe board is authorized to take all necessary actions to implement the preferential issue, including entering into contracts, making applications to stock exchanges, and filing documents with regulatory authorities. The funds received from the preferential issue will be kept in a separate bank account and utilized only after filing Form PAS-3 with the Registrar of Companies (ROC).EGM Details and Remote e-VotingThe EGM will be held through Video Conferencing/Other Audio-Visual Means, allowing members to attend and participate remotely. In compliance with MCA and SEBI circulars, physical attendance of members has been dispensed with, and the facility for appointment of proxies will not be available.Remote e-Voting InformationThe remote e-Voting period will commence on Saturday, August 02, 2025, at 09:00 A.M. and end on Monday, August 04, 2025, at 05:00 P.M. Members holding shares as of the cut-off date, Tuesday, July 29, 2025, can cast their vote by remote e-voting. The e-voting module will be disabled by KFin for voting thereafter.Instructions for Remote e-Voting

Individual demat account holders can cast their vote through their demat accounts/websites of Depositories/DPs. Shareholders are advised to update their mobile number and e-mail ID with their DPs to access the e-Voting facility. Any person holding shares in physical form and non-individual shareholders may obtain the login ID and password by sending a request at evoting@Kfintech.com.