Celebrity Fashions Clears Capital Reclassification and Preferential Equity Issue

The latest announcement is out from Celebrity Fashions Limited ( (IN:CELEBRITY) ).

Celebrity Fashions Limited’s board has approved a reclassification of its authorised share capital by converting its 1% cumulative redeemable preference shares into equity shares, along with the corresponding amendment to the capital clause of its Memorandum of Association, subject to shareholder approval. The board has also cleared a preferential issue of 4,869,932 fully paid equity shares on a private placement basis to promoters, a director and a public category body corporate, and approved a postal ballot process to seek shareholder consent for both the capital reclassification and the new share issue, signalling a strategic move to strengthen its equity base and potentially improve capital structure and ownership alignment.

More about Celebrity Fashions Limited

Celebrity Fashions Limited is an India-based apparel company operating from the MEPZ/SEZ zone in Tambaram, Chennai. Listed on both BSE and NSE, the company is engaged in the textiles and fashion sector, focusing on manufacturing and exporting garments, with equity shares listed under the BSE scrip code 532695 and NSE symbol CELEBRITY.

Average Trading Volume: 6,128

Technical Sentiment Signal: Sell

Current Market Cap: 469.1M INR

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