Sah Polymers Limited has informed the Exchange regarding Outcome of Board Meeting held on May 07, 2025.
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Sah Polymers' board approved a major pivot into real estate and tech-park development, including a Plug and Play Office complex, AI Park, IT Park, and residential/industrial complexes in Tier 2 and 3 cities, with a total capex of ₹325 crores (first phase ₹125 crores) funded by equity and debt. The board also approved issuing 72 lakh equity shares or convertible warrants at ₹90 per share on a preferential basis to 7 investors, including promoter SAT Industries (36 lakh shares) and others, which will dilute existing shareholders — SAT Industries' holding will move from 55.50% to 54.30%. The board withdrew its earlier decision to merge with holding company SAT Industries Limited, approved the disinvestment in material subsidiary Fibcorp Polyweave Private Limited, and proposed changing the company name to 'Aeroflex Neu Limited'. Authorized share capital was raised from ₹30 crores to ₹34 crores, borrowing and investment limits hiked to ₹500 crores each, and a new Non-Executive Director (Harikant Turgalia) was appointed. An EGM is scheduled for June 6, 2025 to seek shareholder approval.
This is a transformational pivot for shareholders — the company is moving away from its core polymers business toward AI/IT parks and real estate, with significant capital expenditure funded partly by new equity (dilution at ₹90/share). Existing shareholders should watch the EGM outcome closely, as the preferential issue, name change, and new business direction will materially reshape the company's risk profile and shareholding structure.