Proceeding of the Extra-ordinary General Meeting held on Wednesday, 20th August, 2025 at 11:30 a.m. (IST)
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Axel Polymers Ltd held its Extra-ordinary General Meeting on Wednesday, August 20, 2025, at 11:30 a.m. via video conferencing, concluding at 11:57 a.m. The meeting, chaired by Chairman & Managing Director Mr. Gaurav Thanky, had all requisite quorum present with all five directors, the Company Secretary, CFO, and the Secretarial Auditor in attendance. Only one item of business was transacted: a Special Resolution to approve the issue of equity shares by way of preferential issue on a private placement basis to a person belonging to the public category. Remote e-voting was conducted from August 17 to August 19, 2025, with Mr. Devesh Pathak appointed as Scrutinizer. The voting results and Scrutinizer's Report are awaited and will be filed separately within two working days.
The preferential equity issuance to a public-category investor may result in dilution of existing shareholders' holdings; investors should watch for the voting outcome and the detailed terms of the allotment, which will be disclosed separately.