Kkalpana Plastick Limited shareholders have voted against the ordinary resolution for a material related party transaction with Bbigplas Poly Private Limited. The proposal, which sought approval to lease office space for a monthly license fee of ₹10,000, failed to pass with the requisite majority during the postal ballot process concluding on July 07, 2026. The rejection signifies a lack of shareholder support for the agreement, which was intended to renew a lease for office premises in Kolkata.

The resolution sought approval to lease 528 sq. ft. of office space at Maruti Building, Kolkata, for an initial term of 11 months from August 20, 2026, with provisions for renewal for two additional terms of 11 months each. The counterparty, Bbigplas Poly Private Limited, is identified as a promoter and a related party of the company. The transaction was proposed to be conducted at arm's length and in the ordinary course of business.

The voting process was conducted via remote e-voting facilitated by National Securities Depository Limited (NSDL). The e-voting period commenced on June 08, 2026, and concluded on July 07, 2026. Scrutinizer Ashok Kumar Daga, a Practicing Company Secretary, submitted the report confirming the outcome based on the register for voting provided by NSDL. The record date for determining shareholder eligibility was May 29, 2026.

A total of 34 members participated in the voting process, casting 25,798 votes. The results showed a strong dissent from the participating shareholders, with 98.90% of the total votes cast opposing the resolution. Public non-institutional shareholders were the primary participants, with 25,515 votes cast against the proposal compared to 283 votes in favour.

The detailed voting results indicate that while the resolution received some support, it was overwhelmingly rejected by the public non-institutional shareholders. Promoters and public institutions did not participate in the voting process. Consequently, the ordinary resolution contained in the notice dated May 04, 2026, was not passed by the requisite majority.

Acquirer Ashish Begwani has initiated an open offer to acquire up to 14,37,420 fully paid-up equity shares, representing 26.00% of the total paid-up equity and voting share capital of Kkalpana Plastick Limited . The offer price is fixed at ₹28 per share, amounting to a total consideration of ₹4,02,47,760. This open offer is a triggered offer under Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following a substantial acquisition of shares by the acquirer.

The trigger event is a Share Purchase Agreement (SPA) dated July 07, 2026, between Mr. Ashish Begwani and the selling shareholders, Mrs. Sarla Surana and Bbigplas Poly Private Limited. Under this agreement, the acquirer is purchasing 40,12,335 equity shares, constituting 72.58% of the total paid-up equity and voting share capital of the target company. The negotiated price for this underlying transaction is ₹28 per share, payable in cash, aggregating to ₹11.23 crore.

Pursuant to the consummation of the underlying transaction, the acquirer will acquire control over Kkalpana Plastick Limited and will be constituted as the sole promoter. The selling shareholders, who currently form the promoter group, will cease to hold any equity shares and will relinquish control and management of the company. The acquirer has stated that he has adequate financial resources to meet the offer obligations.

The details of the open offer will be published in a newspaper via a Detailed Public Statement on or before Tuesday, July 14, 2026, in accordance with Regulation 14(3) of the SEBI SAST Regulations. The offer is not conditional upon any minimum level of acceptance and is not a competitive bid. VC Corporate Advisors Private Limited has been appointed as the Manager to the Offer.

Transaction Details

Shareholding Pattern