AVI Polymers Ltd Incorporates Wholly Owned Subsidiary AVI ECO SPARK Private Limited

AVI Polymers Ltd has announced the incorporation of its wholly owned subsidiary, marking a strategic expansion into the energy sector. The Ministry of Corporate Affairs approved the incorporation of AVI ECO SPARK PRIVATE LIMITED on February 21, 2026, and issued the Certificate of Incorporation on the same date. Subsidiary Details and Structure The newly incorporated subsidiary operates under specific parameters designed for energy sector operations: Parameter: Details Company Name: AVI ECO SPARK PRIVATE LIMITED (AESPL) CIN: U35109GJ2026PTC173971 Authorized Capital: ₹1,00,000 (Rupees One Lakh Only) Share Structure: 10,000 equity shares of ₹10 each Shareholding: 100% by AVI POLYMERS LIMITED Industry Sector: Energy Sector Business Objectives and Operations AVI ECO SPARK PRIVATE LIMITED has been established with the primary objective of generating electric energy and power. This represents a diversification from AVI Polymers' main line of business, as the parent company ventures into the energy generation sector. The subsidiary's business model focuses on power generation activities within India's energy landscape. Financial and Regulatory Framework The incorporation involved 100% initial subscription to the share capital through cash or banking channel. As a wholly owned subsidiary, AESPL is classified as a related party to AVI POLYMERS LIMITED, with the parent company serving as the promoter. The regulatory filing indicates that no additional governmental or regulatory approvals were required for this acquisition beyond the standard incorporation process. Strategic Implications The establishment of this subsidiary represents AVI Polymers' entry into the energy sector, specifically focusing on electric energy and power generation. Being incorporated on February 21, 2026, the subsidiary currently has no operational turnover, as expected for a newly established entity. The company's presence is limited to India, aligning with the domestic focus of the parent organization. This corporate development was disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with listing requirements and maintaining transparency with stakeholders regarding the company's expansion strategy. AVI Polymers Limited has announced a further extension of its ₹90.00 crore rights issue closing date, moving it from March 16, 2026 to March 17, 2026. The board of directors approved this change during their meeting held on February 19, 2026, to provide shareholders with additional opportunity to exercise their rights in the offering. Rights Issue Structure and Pricing The rights issue comprises up to 9,00,000 fully paid-up equity shares with a face value of ₹10 each, priced at ₹10.00 per share. The company is offering these shares to eligible equity shareholders in the ratio of 22 rights equity shares for every 1 fully paid-up equity share held on the record date. Parameter: Details Issue Size: Up to ₹90.00 crore Number of Shares: 9,00,000 equity shares Face Value: ₹10 per share Issue Price: ₹10.00 per share Rights Ratio: 22:1 Record Date: February 11, 2026 Latest Revised Timeline and Key Dates Following the board meeting held on February 19, 2026, the company has updated the rights issue schedule with the extended closing date. The last date for submission of the duly filled Common Application Form (CAF) along with the amount payable on application remains March 16, 2026. Event: Date Issue Opening Date: Monday, February 23, 2026 Issue Closing Date: Tuesday, March 17, 2026 Finalising Basis of Allotment: Tuesday, March 24, 2026 Date of Allotment: Wednesday, March 25, 2026 Date of Credit: Tuesday, March 31, 2026 Date of Listing: Wednesday, April 01, 2026 Application Process and Regulatory Framework The rights issue will be conducted under the ASBA (Applications Supported by Blocked Amount) process, with applications accepted through Self Certified Syndicate Banks (SCSBs). Eligible shareholders can apply for their full entitlement, partial entitlement, or additional shares beyond their rights entitlements. The company has also provided for plain paper applications under specific circumstances as per SEBI regulations. Allotment will be made only in dematerialized form, and shareholders holding physical shares must provide demat account details at least two working days prior to the issue closing date. The company's shares are listed on BSE Limited under scrip code 539288. Corporate Leadership and Compliance Managing Director Chintan Yashwantbhai Patel (DIN: 10774473) has signed the regulatory communications, ensuring compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The board meeting was conducted at the company's registered office and concluded at 07:30 P.M. MCS Share Transfer Agent Limited serves as the registrar to the issue, while IndusInd Bank Limited acts as the escrow collection bank, allotment account bank, and refund banker. The company's registered office is located in Ranchi, Jharkhand, with corporate office operations in Anand, Gujarat. 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.