New directors appointed after Open Offer; CFO exits

Open Offer TriggeredListed Co AcquisitionStrategic Transactions View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+1.8%Reaction day

₹4.87

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+1.0%+0.8% vs market

Plastic Products - Industrial peers, median of 39sector+0.4%+1.4% vs sector

On the reaction day the stock moved 0.8 pts more than Nifty Microcap 250 and 1.4 pts more than its Plastic Products - Industrial peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

+1.8+1.0+0.8+0.4+1.4

Next day

+3.7+1.2+2.5+0.2+3.5

+5.7+2.1+3.7+1.0+4.7

+7.8+1.7+6.1+1.1+6.7

+9.9+1.9+7.9-0.6+10.4

+11.9+1.2+10.7-1.3+13.3

+16.2+1.1+15.1-1.9+18.1

15d

+35.1+1.6+33.5-1.2+36.3

+54.4+0.1+54.3+0.5+53.9

+135.9+6.6+129.3-2.7+138.7

+254.4+5.5+248.9-1.3+255.7

UpDownMarket · Nifty Microcap 250Sector · Plastic Products - Industrial peers, median of 39Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Board appointed Mr. Mahesh Odedra and Mr. Hiren Odedra as Additional Directors under the Promoter Category after SEBI cleared the Open Offer on June 23, 2026. Acquirers deposited Rs. 1.14 crore in escrow, over 100 percent of the offer value. Mr. Sanjaykumar Shah resigned as Executive Director and CFO due to the management change. Board committees were reconstituted and the registered office shifted within Ahmedabad.

Likely market impact

Management change completed as new acquirers take control of the board, likely bringing a shift in business strategy and direction.