Pipan Oils Ltd: Clarifies Explanatory Statement for Preferential Issue

Pipan Oils Ltd has issued clarifications and corrections to the Explanatory Statement related to the Preferential Issue of 26,29,416 Compulsorily Convertible Preference Shares (CCPS). The issue price is ₹91 per CCPS (₹2 face value + ₹89 premium). The clarifications pertain to Item No. 7, sub-points 5, 18, and 20 of the Explanatory Statement. Notably, it clarifies that except for Ms. Avni Jindal and Mr. Nilesh Jindal, no other existing Directors, Promoters, or KMP intend to subscribe to the issue. The filing also details the ultimate beneficial owners of proposed allottees and their post-preferential shareholding percentages, with several individuals and entities acquiring small stakes ranging from 0.01% to 1.64%.