Pankaj Polymers shareholders will vote on August 22, 2026, to approve a ₹24.9 crore capital raise and a strategic transformation from polymers to financial technology. The Extra-Ordinary General Meeting (EGM), held via video conferencing, seeks consent for the preferential issue of 8,55,000 equity shares and 22,20,000 warrants at ₹81 each. This restructuring aims to fund business expansion and working capital requirements as the company pivots toward digital payments, e-commerce, and software services.

The equity component targets 19 non-promoter investors, including Whole-time Director Mayank Chawla, who is acquiring 1,25,000 shares. The warrant issue involves 17 investors, comprising promoter group members such as Samarth Jain, Shweta Raghuvanshi, and Sonia Garg (each allotted 1,20,000 warrants), and non-promoters like Ayushi Bhati and Shankar Nath (each receiving 3,80,000 warrants). Warrants are convertible into one fully paid-up equity share within 18 months of allotment. Under SEBI ICDR Regulations, warrant holders must pay 25% of the issue price upfront, with the remaining 75% due upon exercise.

Strategic Restructuring and Governance

Concurrent with the fundraising, the Board proposes changing the company’s name to Rupia Tech Limited, Rupia Fin Limited, or Rupia Fintech Limited, subject to Ministry of Corporate Affairs approval. The Memorandum of Association will be altered to include objects such as payment aggregation, Bharat Bill Payment System (BBPS) services, digital gifting, and IT software development. Additionally, the registered office will shift from Secunderabad, Telangana, to Delhi to improve operational efficiency.

The Board has also appointed M/s. Shilpi Sharma & Co., Chartered Accountants (FRN: 021442N), as Statutory Auditors to fill the casual vacancy left by M/s. Luharuka & Associates. Their appointment is effective from July 24, 2026, until the conclusion of the ensuing Annual General Meeting. Furthermore, shareholders will regularize the appointments of Mayank Chawla as Executive Director and CEO, Vikas Garg and Rahul Nagar as Non-Executive Directors, and Siba Narayan Panda and Richa Kathuria as Independent Directors.

What the Numbers Show

The dual issuance structure balances immediate liquidity with future dilution control. By pricing both equity and warrants at ₹81 — slightly above the floor price of ₹80.48 determined by the volume-weighted average price over the preceding 10 trading days — the company signals confidence in its valuation. The significant participation of promoter group members in the warrant tranche aligns insider interests with long-term value creation in the new fintech vertical. However, the substantial potential dilution from 22,20,000 convertible warrants underscores the need for successful execution of the proposed business model to sustain shareholder value.

Pankaj Polymers Limited has reclassified its promoters and promoter group entities to the public category following the completion of an open offer. The reclassification, disclosed to BSE Limited on June 29, 2026, impacts nine entities that collectively held significant stakes prior to the offer. This transition signifies a change in the company's shareholding structure and control, complying with Regulation 31A(10) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The reclassification follows the open offer conducted pursuant to the Letter of Offer dated February 09, 2026, under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. As a result, the erstwhile promoters no longer exercise control over the company or participate in decision-making processes. The company confirmed that these entities do not hold more than 10% shareholding, possess special rights, or hold board positions.

The following table details the shareholding changes for the reclassified entities:

The requests for reclassification were submitted by the erstwhile promoters to the company. Pankaj Polymers Limited has requested the stock exchange to update its records to reflect the status of these entities as public shareholders. The disclosure was signed by Mayank Chawla, Additional Director, on behalf of the company.