AVI Polymers Completes ₹89.99 Crore Rights Issue Allotment, Appoints Monitoring Agency

AVI Polymers Limited has completed a significant milestone in its capital raising initiative, successfully allotting 8,99,95,400 rights equity shares and appointing a monitoring agency to oversee fund utilization. The Board of Directors approved these key decisions during their meeting held on March 19, 2026.

Rights Issue Allotment Details

The company completed the allotment of rights equity shares following its Letter of Offer dated February 13, 2026. The allotment was conducted in accordance with the basis finalized in consultation with BSE Limited, the designated stock exchange, and the registrar to the issue.

Parameter Details Number of Shares Allotted 8,99,95,400 Face Value per Share ₹10.00 Issue Price per Share ₹10.00 Total Amount Raised ₹89,99,54,000

The rights equity shares were issued at par value, with each share priced at ₹10.00, matching the face value. This pricing strategy enabled the company to raise nearly ₹90.00 crores through the rights issue.

Monitoring Agency Appointment

In a move to ensure transparency and accountability, the Board approved the appointment of Brickwork Ratings India Private Limited as the monitoring agency. This appointment aligns with the provisions of Regulation 32 of the SEBI (LODR) Regulations, 2015, and other applicable SEBI guidelines.

Brickwork Ratings India Private Limited brings significant expertise to this role:

SEBI Registration Number: IN/CRA/005/2008

Contact Person: Baiju Mukundray Upadhyay

Address: 3rd Floor, Raj Alkaa Park, Kalena Agrahara, Bannerghatta Road, Bangalore 560076

CIN: U67190KA2007PTC043591

The monitoring agency will oversee the utilization of proceeds raised through the rights issue, providing an additional layer of governance and ensuring funds are deployed as outlined in the offer documents.

Regulatory Compliance and Documentation

Brickwork Ratings provided its formal consent to act as the monitoring agency through a letter dated November 29, 2025. The consent letter confirms the agency's SEBI registration validity and certifies that it has not been prohibited or debarred by any regulatory authority from acting as an intermediary in capital market issues.

The Board meeting, which commenced at 2:30 PM and concluded at 3:15 PM on March 19, 2026, addressed these critical post-issue formalities. The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (LODR) Regulations, 2015, by informing BSE Limited of these developments.

Corporate Structure and Leadership

The decisions were approved under the leadership of Chintan Yashwantbhai Patel, Managing Director (DIN: 10774473). AVI Polymers Limited, incorporated with CIN L20132JH1993PLC005233, operates from its registered office in Ranchi, Jharkhand, with its corporate office located in Anand, Gujarat.

The successful completion of the rights issue allotment and appointment of a monitoring agency represents important steps in AVI Polymers' capital structure enhancement and corporate governance framework strengthening.

AVI Products India Limited announced that its Extra-Ordinary General Meeting scheduled for March 17, 2026 was adjourned due to insufficient quorum and has been rescheduled for March 24, 2026. The company informed BSE Limited about the proceedings through an official communication signed by Managing Director Avinash D. Vora.

Meeting Details and Attendance

The Extra-Ordinary General Meeting was originally scheduled for Tuesday, March 17, 2026 at 2:00 P.M. through Video Conferencing and Other Audio-Visual Means. Director Vikram Avinash Vora (DIN: 02454043) chaired the meeting and welcomed the members present.

Parameter: Details Total Shareholders (Cut-off Date): 13,930 Cut-off Date: March 10, 2026 Members Attended: 5 Meeting Format: Video Conferencing/OAVM Meeting Conclusion Time: 2:32 P.M. Scrip Code: 523896

Quorum Requirements and Adjournment Process

The Chairman informed attendees that the requisite quorum for the meeting was not present within the stipulated time as required under the provisions of the Companies Act, 2013. Following proper procedure, the Chairman addressed the members and adjourned the meeting for an additional 30 minutes to allow for quorum compliance.

After the extended waiting period, no additional members joined to meet the quorum requirements. Consequently, the Chairman announced the formal adjournment of the meeting in compliance with the Companies Act, 2013 provisions.

Rescheduled Meeting Information

The adjourned Extra-Ordinary General Meeting has been rescheduled for Tuesday, March 24, 2026 at 2:00 P.M. through Video Conferencing and Other Audio-Visual Means. The company has communicated this information to BSE Limited for regulatory compliance and record-keeping purposes.

The communication included a summary of proceedings as Annexure A, detailing the complete adjournment process and the reasons for rescheduling the meeting. The official communication was addressed to The Secretary, BSE Limited at Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai.

We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.

Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.

As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.