VIP Clothing Limited has announced a revision to the outcome of its board meeting held on May 18, 2026, clarifying the name of one proposed allottee as “Trikaya Capital Partners Private Limited”. The core notice pertains to the board’s approval for the issuance of 21,200,000 warrants on a preferential basis, which are convertible into an equivalent number of equity shares. The warrants are being issued at a price of Rs. 22.50 per warrant (including a premium of Rs. 20.50), aggregating to a total consideration of Rs. 47.70 Crores. These warrants will be allotted to 16 investors, including promoters and non-promoters, to fuel the company’s capital requirements. The board has also scheduled an Extraordinary General Meeting (EGM) for June 11, 2026, to seek shareholder approval for this preferential issue.

VIP Clothing Limited, incorporated in 1991 and headquartered in Mumbai, is a prominent Indian manufacturer, marketer, and distributor of men’s and women’s innerwear and socks. The company operates in the mass-to-premium segment under well-known brand names such as VIP, Frenchie, Frenchie X, VIP Feelings, and VIP Leader. It manages an extensive distribution network with over 445 distributors and approximately 40,000 retail outlets across India. The company is currently undergoing a strategic turnaround, focusing on brand strengthening and expanding its market presence. In 2025, the company notably reintroduced its “Frenchie X” brand, blending its legacy with modern market values. Additionally, the company has taken proactive measures to assist physical shareholders with re-lodging transfer requests, adhering to recent regulatory initiatives.