The Board, inter alia, considered and unanimously approved the following strategic initiatives: 1. Transformational Acquisition and Fund Raising via Share Swap Mechanism. 2. Strategic ....
Awaiting price reaction for this filing.
AVI Polymers Ltd's Board of Directors met on May 7, 2026 and unanimously approved two key initiatives. First, the company will acquire a 90% stake in JVTR Consultants Private Limited at an indicative valuation of ₹500 Crore through a share swap mechanism via preferential issue. Second, the company is expanding its core business objects to include IT services, software development, system integration, digital platforms, and allied technology services by altering its Memorandum of Association. Both proposals are subject to shareholder approval, regulatory clearances, due diligence, and finalization of definitive agreements. This represents a strategic pivot from polymers into the technology sector.
The acquisition marks AVI Polymers' entry into the technology space with a ₹500 Crore deal, signaling a major business transformation. The share swap mechanism means existing shareholders will see dilution as new shares are issued to fund the acquisition.