Sah Polymers Limited has informed the Exchange regarding Appointment of Mr. Harikant Ganeshlal Turgalia as Non- Executive Director of the company w.e.f. March 11, 2025.
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Sah Polymers held an Extra-Ordinary General Meeting on June 6, 2025, where shareholders approved three key items. First, Mr. Harikant Ganeshlal Turgalia (62, commerce graduate, 36+ years in finance, accounts, and operations) was confirmed as a Non-Executive Non-Independent Director, with a designation change effective March 11, 2025. Second, the company approved the complete disinvestment (sale) of its equity stake in subsidiary Fibcorp Polyweave Private Limited. Third, the company will issue 72,00,000 fully convertible warrants at Rs. 90 per warrant on a preferential basis to seven investors, including promoter Aeroflex Enterprises Limited (36 lakh warrants), Benani Capital, VPK Global Venture Fund, and four members of the Ajmera family (24 lakh warrants combined). If all warrants are converted within 18 months, Aeroflex's stake would dilute slightly from 55.50% to 54.30%.
Shareholders should note three developments: a new non-executive director has been formally appointed, a subsidiary (Fibcorp Polyweave) is being fully divested which could impact consolidated financials, and a preferential warrant issue worth about Rs. 64.8 crore will bring in promoter and non-promoter capital while slightly diluting existing shareholders if warrants are fully converted.