Shareholders' approval will be sought through postal ballot (e-voting) for the said preferential issue of securities.

Celebrity Fashions is a garment exporters with the capability to manufacturing the largest number of trousers in the country. The company also has its own premier menswear brand.

Net profit of Celebrity Fashions declined 15.82% to Rs 2.50 crore on 1.81% decline in net sales to Rs 95.22 crore in Q3 December 2022 over Q3 December 2021.

Shares of Celebrity Fashions dropped 8.79% to settle at Rs 15.05 on Monday, 13 February 2023.