Sah Polymers Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on Jun 06, 2025
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Sah Polymers has called an EOGM on June 6, 2025 (e-voting June 3-5) to seek shareholder approval for 10 major items. Key proposals include: (1) changing the company name to 'Aeroflex Neu Limited', (2) a major shift in the company's objects clause adding businesses such as real estate, construction, data centres, AI/IT parks, logistics parks, warehousing, engineering goods and smart technology/AI devices — a sharp move away from its core polymers business, (3) increasing authorised share capital from Rs. 30 crore to Rs. 34 crore (additional 40 lakh equity shares), (4) issuing 72 lakh convertible warrants on a preferential basis at Rs. 90 each, raising up to Rs. 64.80 crore, with 36 lakh warrants going to promoter Aeroflex Enterprises Ltd (formerly SAT Industries) and 6 lakh each to six non-promoter allottees, (5) approving a borrowing limit of up to Rs. 500 crore under Section 180(1)(c), (6) allowing mortgage/charge on assets up to Rs. 500 crore, (7) approving loans, guarantees and investments up to Rs. 500 crore under Section 186, (8) selling the entire 51.01% stake in material subsidiary Fibcorp Polyweave Pvt Ltd, and (9) appointing Harikant Turgalia (DIN: 00049544) as Non-Executive Non-Independent Director.
This is a transformational corporate event. Existing shareholders face dilution from 72 lakh convertible warrants (~21% expansion of share base if fully converted) and a clear pivot away from polymers into real estate, data centres, AI and logistics. The name change to 'Aeroflex Neu Limited' and the entry of Aeroflex Enterprises as promoter signal a strategic reset, while a Rs. 500 crore borrowing ceiling suggests sizable future expansion or acquisitions. Investors should closely watch the warrant issue price (Rs. 90) versus the current market price to assess dilution impact.