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Highlights
- Iris Clothings has issued a corrigendum to its Extra-Ordinary General Meeting (EGM) notice set for 3 August 2026.
- The update follows a revised valuation report dated 21 July 2026, prepared using audited FY26 financial statements of Infinia Lifestyle Private Limited.
- The revision was prompted by an observation from the National Stock Exchange of India Limited (NSE).
- The company confirmed no change in the fair valuation of Iris Clothings or Infinia Lifestyle, with the proposed swap ratio remaining intact.
- All other terms and information in the original EGM notice remain unchanged.
Iris Clothings Issues Corrigendum to EGM Notice
Iris Clothings Limited notified the National Stock Exchange of India Limited (NSE) about issuing a corrigendum to its Extra-Ordinary General Meeting (EGM) notice, scheduled for Monday, 3 August 2026, to be conducted via Video Conferencing (VC) and Other Audio Visual Means (OAVM).
The corrigendum is being electronically circulated to shareholders who previously received the original EGM notice dated 10 July 2026. This update revises disclosures related to the valuation report for the proposed preferential equity share issue, while confirming the rest of the EGM notice remains unchanged.
Updated Valuation Report Based on Audited Financials
The corrigendum follows the preparation of a revised valuation report dated 21 July 2026.
The original valuation report had been based on provisional financial statements of Infinia Lifestyle Private Limited for FY26. After audited financial statements were finalized, the updated valuation report incorporated these audited figures.
The company clarified that the revised valuation report, reflecting audited financial data of the target company, has been included in the EGM documentation for shareholder review.
NSE Observation Prompted Valuation Update
Iris Clothings explained that after submitting its application for in-principle approval for the proposed preferential equity share issue, the NSE advised updating the valuation report to use audited FY26 financials of Infinia Lifestyle Private Limited instead of provisional data.
In response, the registered valuer issued the updated valuation report dated 21 July 2026, which has also been posted on the company’s website for shareholder access.
The company noted this revision aligns valuation documentation with the audited financials of the target company.
Fair Valuation and Swap Ratio Unaffected
The corrigendum emphasizes that the updated valuation report does not alter the fair valuation of equity shares of either Iris Clothings Limited or Infinia Lifestyle Private Limited.
Additionally, the proposed share swap ratio detailed in the original EGM notice remains unchanged despite the valuation update.
Shareholders are therefore not required to consider any changes to the proposed transaction structure due to the revised valuation.
Other EGM Details Remain Consistent
Except for incorporating the updated valuation report, Iris Clothings confirmed all other terms, conditions, and contents of the original EGM notice remain unchanged.
The corrigendum is an integral part of the EGM notice dated 10 July 2026 and should be read alongside the original notice. It has been uploaded on both the company’s website and the National Stock Exchange of India Limited’s website.
The EGM remains scheduled for 3 August 2026, with no changes announced to the meeting agenda apart from valuation-related updates.
Data Source: Company Filings; Analysis: Kalkine Group
Conclusion
Iris Clothings has updated its EGM documentation by issuing a corrigendum following a revised valuation report based on the audited FY26 financial statements of Infinia Lifestyle Private Limited. The company confirmed that the updated report does not affect the fair valuation of either company or the proposed share swap ratio. Apart from these valuation-related updates, all other details of the original EGM notice remain unchanged, and the meeting will proceed as planned on 3 August 2026.
