Oxford Industries Ltd

Oxford Industries Ltd has announced that its Board of Directors will convene on July 15, 2026, at the company's registered office. The primary agenda items include the consideration and approval of the appointment of M/s. Lipika and Associates as the new Statutory Auditors and Ms. Poonam Sharma as the Chief Financial Officer. The meeting will also address any other business with the chair's permission, in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Oxford Industries Limited has announced the closure of its trading window for designated persons and their immediate relatives. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and is effective from Wednesday, July 1, 2026. The trading window will reopen 48 hours after the announcement of the company's unaudited financial results for the quarter ended June 30, 2026. The Board meeting to approve these results is scheduled to be held on or before August 14, 2026. Designated persons are advised against trading in the company's securities during this period.

Oxford Industries Ltd has announced the resignation of its statutory auditor, M/s. PAMS & Associates Chartered Accountants, effective June 19, 2026. The resignation is due to geographical constraints, as the auditor's firm is based in Bhubaneswar while the company's operations are in Mumbai. The auditor's Mumbai branch closed in 2024, making it increasingly difficult to manage the audit effectively. The company's Audit Committee and Board of Directors will address this in upcoming meetings to appoint a new statutory auditor and fill the casual vacancy.

Oxford Industries Ltd announced the resignation of its Statutory Auditor, M/s. PAMS & Associates Chartered Accountants, effective June 19, 2026. The auditor cited geographical constraints as the reason, stating that their Mumbai branch closed in 2024, making it impractical to efficiently conduct audit procedures for a listed entity from their Bhubaneswar office. The company's Audit Committee and Board of Directors will take note of the resignation and initiate steps to fill the casual vacancy by appointing a new statutory auditor.

Oxford Industries Ltd has submitted its Statement of Impact of Audit Qualification for the year ended March 31, 2026. The statutory auditor issued a qualified opinion due to significant accumulated losses of ₹21,295.40 lakhs and negative working capital of ₹186.78 lakhs, raising doubts about the company's ability to continue as a going concern. However, management is confident due to promoter support commitments and an upcoming open offer by a new promoter to inject funds, which is expected to resolve liquidity and working capital issues.

Navigant Corporate Advisors Ltd announced an open offer on behalf of Saroj Kumar Choudhury to acquire up to 15,45,271 Equity Shares, representing 26.00% of Oxford Industries Ltd. The offer price is set at ₹5.00 per equity share. The Committee of Independent Directors has deemed the offer price justified. The Letter of Offer was dispatched to shareholders on June 4, 2026, and the offer opened on June 12, 2026, closing on June 25, 2026. SEBI provided final observations on May 26, 2026.

Navigant Corporate Advisors Ltd, acting as the Manager to the Offer, has submitted the Recommendation of the Committee of Independent Directors (IDC) to the BSE regarding the open offer for Oxford Industries Limited. The offer, made by Acquirer Saroj Kumar Choudhury, aims to acquire up to 15,45,271 equity shares, representing 26.00% of the total equity, at a price of ₹5.00 per share. The IDC, comprising independent directors Aakansha Vaid, Iranee Tripathy, and Nitin Arvind Oza, has deemed the offer fair and reasonable, recommending shareholders accept it. They cited the offer price being reasonable given the company's negative book value and profitability, exceeding the price in the Share Purchase Agreement (SPA) and the price paid in the preceding 52 weeks, and also surpassing the fair value of ₹3.70 per share as determined by an independent valuer.

The Committee of Independent Directors of Oxford Industries Limited has concluded its meeting regarding the open offer. After reviewing the public announcement, detailed public statement, and letter of offer, the committee has determined that the open offer, initiated by Saroj Kumar Choudhury to acquire up to 15,45,271 equity shares at ₹5 per share (representing 26% of the total share capital), is fair and reasonable. The open offer price is ₹5 per share.

Navigant Corporate Advisors Ltd, the manager to the open offer for Oxford Industries, has issued a corrigendum to the detailed public statement regarding the open offer by Saroj Kumar Choudhury for acquiring up to 15,45,271 equity shares (26.00%) of Oxford Industries. The corrigendum updates the schedule of activities for the open offer, with revised dates for key events including the offer opening and closing dates. The original Detailed Public Statement was published on March 20, 2026.

Oxford Industries Limited's Board of Directors met on May 28, 2026, to approve the audited financial results for the quarter and year ended March 31, 2026. During the meeting, Mr. Manas Dash, a Chartered Accountant with twenty years of experience in taxation, auditing, and management consultancy, was appointed as the Internal Auditor for the financial year 2026-2027. This appointment is made to ensure compliance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.