3,116,584 Equity Shares of Veekayem Fashion And Apparels Limited are subject to a Lock-Up Agreement Ending on 17-AUG-2023.
August 16, 2023
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3,116,584 Equity Shares of Veekayem Fashion And Apparels Limited are subject to a Lock-Up Agreement Ending on 17-AUG-2023. These Equity Shares will be under lockup for 360 days starting from 22-AUG-2022 to 17-AUG-2023.
Details:
The fully diluted post-Issue capital of the Company held by the Promoters shall be locked in for a period of three years from the Date of Allotment (?Minimum Promoter? Contribution?), and the Promoters? shareholding in excess of 20% of the fully diluted post-Issue Equity Share capital shall be locked in for a period of one year from the date of Allotment.
Pursuant to Regulation 236 and 238 of the SEBI (ICDR) Regulations, an aggregate of 20.00% of the fully diluted post-Issue capital of the Company held by the Promoters shall be locked in for a period of three years from the date of Allotment (?Minimum Promoter? Contribution?), and the Promoters? shareholding in excess of 20% of the fully diluted post-Issue Equity Share capital shall be locked in for a period of one year from the date of Allotment.
The lock-in of the Minimum Promoter?s Contribution would be created as per applicable laws and procedures and details of the same shall also be provided to the Stock exchange before the listing of the Equity Shares. It is created for 3 years.
Other than the Equity Shares locked-in as Promoter?s Contribution for a period of three years as stated in the table above, the entire pre-Issue capital of the Company, including the excess of minimum Promoter? Contribution, as per Regulation 238 of the SEBI (ICDR) Regulations, shall be locked in for a period of one year from the date of Allotment of Equity Shares in the Issue. Such lock ? in of the Equity Shares would be created as per the bye laws of the Depositories.
Veekayem Fashion & Apparels Limited is an India-based company that is engaged in the business of weaving and garment manufacturing. The Company's business is organized into two main product categories: textile and garments. It is engaged in the manufacturing of grey cloths, including polyester/viscos, polyester cotton, 100 % linen, 100 % wool and Lycra fabrics through weaving process. It manufactures all types of readymade garments for men and women, which includes formal shirts, cotton shirts, formal trousers, cotton trousers, cotton joggers, cotton shorts, pajamas. The Company's product portfolio includes 100% cotton, which includes Lycra and Non-Lycra, Giza, Supima, blended cotton suiting, such as chief value cotton, polyester cotton, terry rayon suiting and mock linen. It is engaged in the business of manufacturing for various brands. It also caters to exports and local markets in customized designs as requested by its clients and customers in the textile and apparel industry.