Extra-Ordinary general Meeting Notice
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Noble Polymers Ltd has called an EGM on June 13, 2026 for shareholders to approve 5 key resolutions. First, the company proposes to increase its Authorised Share Capital from Rs. 4 Crores to Rs. 18 Crores by creating 2.8 crore additional equity shares of Rs. 5 each. Second, it seeks approval to allot 22,76,400 equity shares (26% stake) to proposed promoters Mahesh Alabhai Odedra and Hiren Rambhai Odedra at Rs. 5 per share for Rs. 1.14 Crore. Third, the company plans to issue 2,34,75,735 Fully Convertible Warrants at Rs. 5 each to 13 allottees including the proposed promoters and various non-promoter entities, raising up to Rs. 11.74 Crore. Fourth, the company wants to expand its business objects to include trading in agricultural produce, precious stones/bullion, and overseas investments. Fifth, it seeks approval to increase inter-corporate loans, guarantees, and investments limits to Rs. 50 Crores under Section 186 of the Companies Act. An Open Offer has been triggered due to the proposed change in control.
This EGM represents a significant change in control of Noble Polymers. Two new promoters (Odedra family) will acquire 26% stake through preferential equity allotment, triggering an Open Offer. The warrants issue to 11 additional allottees (including Akalpya India Equity Fund, Satvat Agro LLP, and various individuals) could further dilute or alter shareholding. The expanded business objects signal a potential diversification from polymers into commodities trading and overseas investments. Existing shareholders should note potential dilution and the upcoming Open Offer opportunity.