Polyplex Corporation disclosed on August 6, 2026, that AGPH (Thailand) Ltd. successfully acquired 162,812,291 ordinary shares of its 51%-owned subsidiary, Polyplex (Thailand) Public Company Ltd. (PTL), through a tender offer that closed on August 5, 2026. The acquired shares constitute 18.09% of PTL’s total paid-up share capital and voting rights. This development marks a significant shift in the ownership structure of the Thai subsidiary, as AGPH (Thailand), a wholly owned subsidiary of AGP Holdco Limited based in the UAE, increases its direct stake in the entity.

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Polyplex Corporation had previously informed the exchanges on June 22, 2026, about AGPH’s intention to make a tender offer for all ordinary shares of PTL. In a subsequent disclosure dated July 1, 2026, the company stated that its Board of Directors resolved not to participate in the tender offer regarding its own shareholding in PTL. On August 6, 2026, the company received the 'Report on the Result of the Securities Acquisition' in Form 256-2 from the Securities and Exchange Commission of Thailand.

Tender Offer Details

AGPH (Thailand) Ltd. initiated the tender offer to acquire 100% of the outstanding ordinary shares of PTL, totaling 900,000,000 shares. However, only a portion of these shares were tendered by shareholders. The final result shows that 162,812,291 ordinary shares were both tendered and acquired by the offeror. No preferred shares or convertible securities were involved in the transaction.

Following the acquisition, AGPH (Thailand) Ltd. holds 162,812,291 ordinary shares in PTL. This holding represents 18.09% of the total outstanding shares and voting rights of the business. The report confirms that no other persons in the same group as the offeror, related parties under Section 258, or other entities held additional securities in PTL as part of this specific acquisition block.

What the Numbers Show

The tender offer resulted in a partial acquisition rather than a full takeover. While AGPH (Thailand) aimed to acquire 100% of PTL’s equity by offering to buy 900,000,000 shares, it secured only 18.09% of the total share capital. This indicates that approximately 81.91% of the shares were not tendered by existing shareholders who chose to retain their holdings. For Polyplex Corporation, which retains its 51% stake, this means AGPH (Thailand) has entered as a new minority shareholder with a nearly 18% position, altering the minority interest composition of the subsidiary without affecting the parent company’s controlling interest.

Polyplex Corporation has re-appointed M/s. Sanjay Gupta & Associates as its Cost Auditors for the financial year 2026-27. The company’s Board of Directors approved the appointment during a meeting held on July 24, 2026. This disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015, read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The remuneration for Sanjay Gupta & Associates will be determined and ratified by the shareholders in the ensuing Annual General Meeting. The firm will also be reimbursed for out-of-pocket expenses incurred during the audit process. Ashok Kumar Gurnani, Company Secretary, signed the disclosure submitted to the National Stock Exchange of India Limited and BSE Limited.

Auditor Profile

Sanjay Gupta & Associates (FRN 000212), based in New Delhi, was established in 1998. The firm comprises seven partners and a team of more than 40 professionals. The partners have extensive experience working with Public Sector Undertakings and Multinational Corporations, having served in roles such as Director Finance and Member Finance across various sectors.

The firm specializes in Cost Audits, Management Audits, Stock Audits, Indirect Taxation, Revenue Assurance Audits, Process Audits, Accounting Separation Audits, Internal Investigations, and System Development. Their practice areas include Business Consulting, Audits, Assurance, and the development of systems and processes. Key industries served include Manufacturing, Telecom, Healthcare, Oil & Gas, Textiles, Fertilizers, Automobiles, and Power.

Appointment Details

The Board meeting commenced at 16:45 hours (IST) and concluded at 17:02 hours (IST) on July 24, 2026. Polyplex Corporation Limited is registered in Noida, Uttar Pradesh, with its registered office in Khatima, Uttarakhand.