Mr. Bhavin Patel has been appointed as an Independent Director of the Company.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Narmada Macplast Drip Irrigation Systems' board, meeting on Feb 27, 2026, approved multiple significant items. Mr. Bhavin Patel, a Company Secretary with over 12 years of experience in corporate governance and secretarial compliance, was appointed as Independent Director, while Mr. Girish Laxmanbhai Baldha resigned from the same role. The board cleared a Rights Issue of up to Rs. 50 crore to existing eligible shareholders, with each equity share carrying a face value of Rs. 2; the company currently has 3.62 crore outstanding shares. A major business diversification was proposed by altering the object clause to include trading in edible oilseeds (mustard, soybean, groundnut, sesame, sunflower), food grains and pulses (wheat, gram, maize), and spices (cumin, coriander, fenugreek). The authorized share capital will also be increased to Rs. 22 crore (11 crore shares of Rs. 2 each), and the registered office will be shifted within Gujarat, both subject to shareholder approval.
The Rs. 50 crore rights issue will raise fresh capital but is likely to dilute existing shareholders, with final issue price and entitlement ratio yet to be announced. The proposed pivot from drip irrigation into agri-commodity trading marks a significant strategic shift that investors should monitor closely for execution risk and the use of raised capital.