The Board of Directors at its meeting held today considered and approved issuance of equity shares of the Company on a preferential basis, subject to the approval of the shareholders and ....
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The Board of Directors of Axel Polymers Ltd, at its meeting on July 24, 2025, approved the unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). It also approved the issuance of 28,28,891 equity shares on a preferential basis at ₹45 per share (face value ₹10, premium ₹35), raising about ₹12.73 crore in total. The shares will be allotted to 57 individual investors and Hindu Undivided Families (HUFs) under the public category, with the top allottees being Parth Kamdar (2,22,222 shares), Kalpesh Gandhi (1,66,667 additional shares), and Jigar Mistry (1,11,111 shares). The company has called an Extra-Ordinary General Meeting on August 20, 2025 to seek shareholder approval for the preferential issue. No institutional or marquee investors are part of this allotment.
Existing shareholders will see dilution of their stake as 28.28 lakh new shares are being issued. However, the issue is being made at ₹45 per share with a ₹35 premium over face value, which is healthy pricing. The capital infusion of around ₹12.73 crore will strengthen the company's equity base, though the allottees are mostly small individual investors rather than large institutional names.