Notice of Postal Ballot
Awaiting price reaction for this filing.
AVI Polymers is seeking shareholder approval through a postal ballot (remote e-voting from June 9 to July 8, 2026) on four key resolutions. First, the company plans to increase its authorised share capital from Rs. 100 crore to Rs. 105 crore. Second, it proposes a bonus issue of 1 equity share for every 10 held, capitalising Rs. 9,40,86,100 from free reserves, taking pre-bonus paid-up capital from Rs. 94.09 crore to a higher level. Third, the company wants to sub-divide (stock split) each equity share of Rs. 10 face value into 10 shares of Re. 1 each. Fourth, it seeks to alter its object clause to enter sustainability-focused businesses, including industrial waste management, advanced recycling technologies, and carbon footprint/ESG consulting services. The company currently has 9,40,86,100 equity shares of Rs. 10 each outstanding.
The combined bonus issue and stock split will increase the number of outstanding shares tenfold while reducing the face value to Re. 1, making the stock more affordable and liquid for retail investors. The diversification into waste management, recycling, and ESG consulting signals a strategic shift beyond existing operations, which could open new growth avenues but also carries execution risk.