In pursuance to Regulation 30 of SEBI (LODR) Regulations, 2015 and in furtherance to our letter dated 29th July, 2025, we wish to inform you that the Extra-ordinary General Meeting of the ....
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Polychem Ltd has called an Extra-Ordinary General Meeting on 1st September 2025 at 10:30 a.m. via video conferencing to seek shareholders' approval for a special resolution. The resolution seeks permission to dispose of land and a building owned by its material subsidiary, Gujarat Poly Electronics Limited (GPEL), located at Plot No. B-18, Gandhinagar Electronic Estate (12,022.40 sq. metres). The property is proposed to be sold to Tirex Transmission Private Limited, an unrelated buyer, for Rs. 29 crore, as the asset is underutilised and incurring high maintenance costs. Proceeds will be used by GPEL for general corporate purposes, including repaying preference shares and other liabilities, and for strategic investments. The disposal will not affect GPEL's business operations or its customers and suppliers, as it will relocate to a smaller premises.
If approved, Polychem's material subsidiary GPEL will realise Rs. 29 crore from a non-core, underutilised asset, unlocking value and reducing ongoing costs. The deal is unlikely to disrupt GPEL's electronic components business, but shareholders should note the use of proceeds includes general corporate purposes, which could range from debt repayment to new investments.