Corrigendum to the notice of Extra-ordinary General Meeting dated 24.07.2025 scheduled to be held on 20.08.2025 at 11:30 a.m. (IST) is enclosed.
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Axel Polymers has issued a corrigendum to its earlier EGM notice (dated July 24, 2025) to provide additional and amended details about a proposed preferential allotment of equity shares. The EGM will be held on August 20, 2025 at 11:30 a.m. via video conferencing. The company plans to raise ₹12.73 crore by issuing 28,28,891 new equity shares to 57 identified allottees, mostly individuals. Funds will be used as: up to 60% for working capital needs and debt repayment, up to 20% for general corporate purposes, and up to 20% for minor plant upgrades and infrastructure. Post-issue, total shares will rise from 85,16,680 to 1,13,45,571.
This preferential allotment will dilute existing shareholders — promoter group holding will fall from 61.16% to 45.91%, while non-institutional (public) shareholding will rise sharply from 38.61% to 53.92%. Shareholders should review whether they approve this capital raise, as it changes the ownership structure and brings in new investors, though it also provides the company funds to reduce debt and fund operations.