AGI Greenpac Limited has informed the Exchange regarding 'Amendment to the Code of Conduct of the Company'.
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AGI Greenpac's board, on September 30, 2025, approved a proposal to raise up to Rs 1,500 crore by issuing equity shares or other convertible securities such as QIPs, preferential issues, or private placement, in one or more tranches. The board also approved amending the main object clause of the Memorandum of Association to add a new business line covering manufacturing of all types of packaging, including aluminum cans and other metal packaging products. Additionally, the company's insider trading code (PIT Code) was amended to comply with SEBI regulations. A postal ballot notice will be sent to shareholders to seek their approval for the fund raise and the MOA change. The Corporate Affairs Committee has been authorized to take decisions on the fund raise.
The Rs 1,500 crore fund raise may lead to equity dilution depending on the final mode and pricing, which could weigh on the stock in the short term. The entry into aluminum can and metal packaging manufacturing signals a strategic diversification beyond glass and plastics, which could be positive if executed well. Shareholders will vote on the proposals via postal ballot.