Celebrity Fashions Limited — Others, 06-02-2025: Shareholders meeting

Celebrity Fashions Limited has announced a board meeting on March 6, 2025, to hold an Extra-Ordinary General Meeting (EGM) via video conferencing. A key agenda item is the approval for the preferential issue of up to 31,26,339 fully paid-up equity shares at a price of ₹16.06 each, totaling approximately ₹5.02 crore, intended for Paradisal Precision Private Limited. This capital raise aims to redeem 50,20,900 Cumulative Redeemable Preference Shares issued to State Bank of India, as the company cannot do so from profits due to carry-forward losses.

The issuance is expected to strengthen the company's capital structure, potentially improving financial stability and investor sentiment, though there remains a risk of dilution for current shareholders.