In pursuance to Regulation 30 of SEBI (LODR) Regulations, 2015 and furtherance to our letter dated 29th July, 2025, we wish to inform you that the extra ordinary general meeting of the ....
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Gujarat Poly Electronics has called an Extra Ordinary General Meeting on September 1, 2025 (via video conferencing) to seek shareholder approval on two special resolutions. The first is the sale of its leasehold land (about 12,022 sq metres) and the factory building on it at Plot B-18, Gandhinagar Electronic Estate to Tirex Transmission Private Limited, an unrelated buyer, for Rs. 29 Crore. The property is currently underutilised and represents more than 20% of the company's total assets, making it a material disposal under Section 180(1) of the Companies Act and Regulation 37A of SEBI LODR. Sale proceeds are intended for repaying liabilities (including preference shares) and general corporate purposes. The second resolution seeks to raise the company's Section 186 limit for loans, investments, guarantees and securities from Rs. 35 Crore to Rs. 60 Crore, partly to deploy sale proceeds into various investment avenues. The company is a material subsidiary of Polychem Limited, whose shareholders will also need to approve the property sale.
If approved, the Rs. 29 Crore sale could generate a substantial one-time profit for Gujarat Poly Electronics, strengthen its cash position and lower fixed maintenance costs, while business operations are expected to shift to a smaller premises without disruption. Shareholders should watch the EGM outcome and the parallel approval from Polychem's shareholders, as both are needed before the deal can close.