Jonjua Overseas Limited Promoter Group Reduces Shareholding...
21 Mar 2026
AVI Polymers Limited has published a detailed newspaper advertisement announcing the successful completion of its rights issue allotment and the appointment of a monitoring agency. The company completed allotment of 8,99,95,400 rights equity shares worth ₹89.99 crores and appointed Brickwork Ratings India Private Limited as the monitoring agency.
Rights Issue Allotment Details
The company successfully completed the allotment of rights equity shares following its Letter of Offer dated February 13, 2026. The rights issue opened for subscription on February 23, 2026, and closed on March 17, 2026.
Parameter: Details Total Applications Received: 1,208 Applications Rejected: 313 (technical reasons) Valid Applications: 895 Shares Allotted: 8,99,95,400 Issue Price: ₹10.00 per share Total Amount Raised: ₹89,99,54,000
Application Breakdown
The detailed breakdown of valid applications shows strong participation from both eligible equity shareholders and renouncees:
Category: Applications Shares Allotted Value (₹) Eligible Equity Shareholders: 626 1,16,51,302 11,65,13,020 Renouncees: 269 78,34,4098 78,34,40,980 Total: 895 89,99,5400 89,99,54,000
Monitoring Agency Appointment
The Board of Directors approved the appointment of Brickwork Ratings India Private Limited as the monitoring agency in accordance with Regulation 32 of the SEBI (LODR) Regulations, 2015. The monitoring agency will oversee the utilization of proceeds raised through the rights issue.
Brickwork Ratings Details:
SEBI Registration Number: IN/CRA/005/2008
Contact Person: Baiju Mukundray Upadhyay
Address: 3rd Floor, Raj Alkaa Park, Kalena Agrahara, Bannerghatta Road, Bangalore 560076
Listing and Trading Status
The company submitted its listing application to BSE Limited on March 19, 2026, which was approved on March 20, 2026. Trading in the fully paid-up equity shares is subject to receipt of trading permission from BSE.
Instructions for unblocking of funds in case of ASBA applications were issued to Self-Certified Syndicate Banks (SCSBs) on March 19, 2026. The registrar to the issue, MCS Share Transfer Agent Ltd, is handling investor queries and grievances related to the allotment process.
Corporate Compliance
The basis of allotment was finalized on March 18, 2026, in consultation with BSE Limited and the Registrar to the Issue. All valid applications after technical rejections were considered for allotment, with no rights equity shares kept in abeyance.
The company has fulfilled its disclosure obligations under SEBI regulations by publishing the detailed allotment advertisement and informing the stock exchange of these developments.
AVI Products India Limited has published newspaper advertisements for its adjourned Extra-Ordinary General Meeting, following regulatory compliance requirements under SEBI regulations. The company had previously announced that its EGM scheduled for March 17, 2026 was adjourned due to insufficient quorum and rescheduled for March 24, 2026.
Regulatory Compliance and Advertisement Publication
On March 20, 2026, Managing Director Avinash D. Vora submitted the newspaper advertisement details to BSE Limited, pursuant to Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company published the advertisement on March 19, 2026 in two newspapers to ensure wider public notification.
Parameter: Details Advertisement Date: March 19, 2026 English Newspaper: Free Press Journal Regional Newspaper: Navshakti Submission Date to BSE: March 20, 2026 Regulation Compliance: SEBI Reg 30 & 47
Original EGM Details and Quorum Issues
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. However, the requisite quorum was not achieved within the stipulated time as required under the Companies Act, 2013.
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
Rescheduled Meeting and Corporate Communication
Following proper adjournment procedures, the Chairman extended the waiting period by 30 minutes to allow for quorum compliance. When no additional members joined, the meeting was formally adjourned in compliance with the Companies Act, 2013 provisions. The rescheduled Extra-Ordinary General Meeting is now set for Tuesday, March 24, 2026 at 2:00 P.M. through Video Conferencing and Other Audio-Visual Means.
The company's official communication to BSE Limited included comprehensive documentation of the adjournment process and regulatory compliance measures. Managing Director Avinash D. Vora signed all official communications, ensuring proper corporate governance protocols were followed throughout the process.
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