AVI Polymers shareholders approve bonus issue and stock split
AVI Polymers Limited received shareholder approval to increase its authorised share capital, issue bonus shares, and split equity shares from a face value of ₹10 to ₹1. The resolutions were passed via remote e-voting conducted through a postal ballot process managed by scrutinizer Mr. Abhishek Prakashchand Chhajed of M/s. SCS AND Co. LLP. The company also secured approval for a special resolution to alter the object clause of its Memorandum of Association.
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AVI Polymers Limited secured shareholder approval to increase its authorised share capital, issue bonus shares, and split equity shares from a face value of ₹10 to ₹1, as disclosed in a regulatory filing on July 9, 2026. The resolutions were passed via remote e-voting conducted through a postal ballot process, which concluded on July 8, 2026. The company also secured approval for a special resolution to alter the object clause of its Memorandum of Association (MoA).
Voting Results
The postal ballot process, managed by scrutinizer Mr. Abhishek Prakashchand Chhajed of M/s. SCS AND Co. LLP, saw participation from promoters and public non-institutional shareholders. The voting period commenced on June 9, 2026, and concluded on July 8, 2026. All four proposed resolutions were passed with the requisite majority.
Resolution Summary
| Resolution | Type | Status | Votes in Favour | Votes Against | % Favour |
|---|---|---|---|---|---|
| Increase Authorised Share Capital | Ordinary | Passed | 28,481,715 | 18,542 | 99.93% |
| Issuance of Bonus Shares | Ordinary | Passed | 28,518,819 | 11,180 | 99.96% |
| Split of Shares (₹10 to ₹1) | Ordinary | Passed | 28,469,511 | 58,746 | 99.79% |
| Change in Object Clause | Special | Passed | 28,428,367 | 58,890 | 99.79% |
Key Approvals
The approval for the split of shares will reduce the face value of each equity share from ₹10 to ₹1. The issuance of bonus shares and the increase in authorised share capital are intended to alter the capital structure of the company. The special resolution to change the object clause allows the company to modify its primary objectives as stated in the MoA.
The Board of Directors had initially decided to seek shareholder consent for these matters at a meeting held on June 4, 2026. The proceedings were submitted to the Bombay Stock Exchange in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
What specific new business activities or sectors does AVI Polymers plan to pursue following the alteration of the object clause?
How will the share split and bonus issue impact the liquidity and trading volume of AVI Polymers' stock on the Bombay Stock Exchange?
Does the increase in authorised share capital indicate an imminent plan to raise fresh equity capital for acquisitions or expansion?
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