AVI Polymers clarifies misleading news report, says operations normal

AVI Polymers is responding to a misleading Bhaskar English news article which claimed the company's Ahmedabad office was found locked. The company clarifies its registered office is in Ranchi, Jharkhand, and corporate office is in Anand, Gujarat, not Ahmedabad. Regarding promoter shareholding reduction, the company says it was due to a Rights Issue that increased total shares, diluting the promoters' percentage while they continued to hold the same number of shares. The company states the newspaper did not contact it for verification before publishing. AVI Polymers confirms it remains active, compliant with the Companies Act and SEBI LODR regulations, and conducts business as usual.