Corporate Announcement for outcome of the 39th Annual General meeting of the company held today i.e, 27th September 2025 at 12 pm
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Bisil Plast Limited held its 39th AGM on 27th September 2025 via video conferencing, concluding in just 21 minutes. Shareholders approved routine items including the audited financial statements for FY ended March 31, 2025 and the re-appointment of Mr. Jagdip Panachand Vora as a director. A key approval was the appointment of Mr. Ravikumar Kirtibhai Patel as the new Managing Director. Members also cleared raising of up to Rs. 99 crore through a Qualified Institutions Placement (QIP) of equity shares, an increase in the FPI/FII aggregate shareholding limit to 49% of paid-up capital, and higher thresholds for loans, guarantees, and investments under Sections 185 and 186 of the Companies Act.
The Rs. 99 crore QIP approval could lead to equity dilution and short-term stock pressure, but provides growth capital. Raising the FII/FPI limit to 49% signals management's intent to attract foreign institutional investors.