Midland Polymers Limited has announced that its board of directors will meet on Friday, May 29, 2026, to consider the audited financial results for the quarter and year ended March 31, 2026. The meeting is scheduled to take place at the company's registered office in Hyderabad.

Agenda for the Meeting

The primary agenda for the upcoming board meeting includes the consideration of the audited financial results along with the Auditor's Report for the specified period. The board will also discuss any other business with the permission of the Chair.

Trading Window Closure

In compliance with Regulation 9 of the SEBI (Prohibition of Insider Trading) Regulations, 2015, the company has informed the exchanges that the trading window for dealing in its securities is currently closed. This restriction, effective from April 1, 2026, applies to all connected persons, officers, designated employees, insiders, directors, and their immediate relatives. The window will remain closed until 48 hours after the declaration of the audited financial results.

Company Information

Midland Polymers Limited has submitted the Letter of Offer to the Securities and Exchange Board of India (SEBI) for its open offer to acquire up to 26.00% of the expanded equity share capital. The offer is being made by a group of acquirers, including Gayathri Boreddy, Jagannath Edla, Radha Krishna Avudari, Mahammad Amaan Shaik, and Ravi Kiran Veeramalla. The acquirers intend to purchase up to 97,50,000 fully paid-up equity shares of ₹10 each at a price of ₹10 per share.

The open offer is being conducted in compliance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Navigant Corporate Advisors Limited is acting as the Manager to the Offer, while Purva Sharegistry (India) Private Limited is the Registrar to the Offer. The offer is not subject to any minimum level of acceptances and is not a conditional offer.

Revised Schedule of Activities

The timeline for the open offer has been established, with the offer opening on June 3, 2026, and closing on June 16, 2026. The table below details the key dates for the critical activities associated with the offer.

Offer Details and Shareholder Eligibility

The identified date of May 19, 2026, is crucial for determining the shareholders to whom the Letter of Offer will be dispatched. All registered and unregistered owners of equity shares, excluding the acquirers, promoters, and the selling company, are eligible to participate in the offer at any time before its closure. The offer price of ₹10 per share is justified based on the negotiated price for the preferential allotment. The acquirers have deposited ₹250.00 Lacs in an escrow account with Kotak Mahindra Bank Limited, which is in excess of 25% of the offer consideration.