Sachin Govindlal Modi has filed a disclosure with the Bombay Stock Exchange regarding his reduced shareholding in Narmada Macplast Drip Irrigation Systems Ltd. The disclosure, submitted under SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011, details a recent share disposal transaction that resulted in a decrease in his voting rights.

Share Disposal Details

Modi disposed of 675,000 shares of Narmada Macplast Drip Irrigation Systems through open market sale on 23/03/2026. The transaction represents a significant decrease in his shareholding percentage.

Shareholding Position

The disposal has resulted in a notable decrease in Modi's overall stake in the company. His shareholding position before and after the transaction shows the following changes:

Company Information

Narmada Macplast Drip Irrigation Systems Ltd is listed on the Bombay Stock Exchange with scrip code 517431. The company's total equity share capital remains unchanged at 36,230,000 shares. Modi's disclosure confirms that he does not belong to the promoter or promoter group of the company.

Regulatory Compliance

The disclosure was filed on 23/03/2026, in compliance with Section 29(2) of SEBI's Substantial Acquisition Regulations. Modi has confirmed that a copy of the disclosure was also filed separately with the target company as required under the regulations. The filing demonstrates adherence to transparency requirements for substantial shareholding changes in publicly listed companies.

Narmada macplast drip irrigation Systems Ltd. announced significant corporate developments following its board meeting held on February 27, 2026. The meeting, conducted at Office No. 10 & 11, Shree Ratna Complex, Near Krushnanagar Bus Stop, Akhbarnagar Road, New Vadaj, Ahmedabad, commenced at 4:00 PM and concluded at 6:00 PM.

Rights Issue Announcement

The board approved a substantial rights issue worth Rs. 50.00 crores, offering equity shares with a face value of Rs. 2.00 each to eligible shareholders. The issue will be extended to existing equity shareholders as on the record date, which will be determined by the board in due course.

The company has established a Rights Issue Committee comprising directors to oversee all matters related to the issue, including determination of fractional entitlements, regulatory applications, and finalization of terms and conditions.

Board Changes and Corporate Governance

Significant changes were made to the board composition during the meeting. The directors approved the appointment of Mr. Bhavin Patel as an Additional Non-Executive Independent Director, effective February 27, 2026. Mr. Patel brings over 12 years of experience in corporate governance and secretarial compliances as a member of the Institute of Company Secretaries of India.

Simultaneously, the board accepted the resignation of Mr. Girish Laxmanbhai Baldha from his position as Independent Director, with the resignation letter to be submitted within the prescribed time limit.

Business Expansion and Object Clause Modification

The company proposed significant expansion of its business activities through alteration of its object clause. The new additions will diversify Narmada Macplast's operations beyond drip irrigation systems into agricultural commodities trading.

The proposed new business activities include:

• Edible & Oil Seeds Trading: Dealing in mustard, soybean, groundnut, sesame, and sunflower seeds for supply to oil millers, solvent extractors, and food processors
• Food Grains & Pulses: Trading in wheat, gram (chana), and maize for both consumption and cultivation purposes
• Spices & Condiments: Handling cumin (jeera), coriander (dhaniya), and fenugreek (methi) for culinary use and sowing purposes

Capital Structure Enhancement

To support the expanded operations and rights issue, the board approved increasing the authorized share capital to Rs. 22.00 crores, divided into 11,00,000 equity shares of Rs. 2.00 each. This represents a significant enhancement of the company's capital base to accommodate future growth.

Operational Changes

The board also approved a proposal for shifting the registered office outside the local limits of the current city while remaining within Gujarat state. This move, along with all other major proposals, is subject to shareholder approval in the upcoming general meeting.

All resolutions requiring shareholder consent will be presented at the general meeting, including the rights issue, object clause alterations, authorized capital increase, and registered office relocation. The detailed terms and conditions of the rights issue will be specified in the Letter of Offer to be issued electronically to eligible shareholders.