Solve Plastic Products Limited has secured shareholder approval to vary the objects of its Initial Public Offer (IPO) and modify the utilisation of unutilised IPO proceeds. The resolution was passed via remote e-voting conducted between May 22, 2026, and June 20, 2026, with 97.43% of votes cast in favour. This approval allows the company to alter the stated objectives of its public issue and redirect funds that remained unspent from the original offering.

The postal ballot process was overseen by Nikhil George Pinto, a Company Secretary in Practice and Partner at M/s. CaesarPintoJohn & Associates LLP, who served as the Scrutinizer. Central Depository Services (India) Limited (CDSL) acted as the service provider for the remote electronic voting facility, while Integrated Registry Management Services Private Limited served as the Registrar and Share Transfer Agent.

The voting period commenced on May 22, 2026, at 09:00 a.m. IST and concluded on June 20, 2026, at 5:00 p.m. IST. Following the closure of the voting window, the Scrutinizer unblocked the votes and compiled the results. The special resolution required a majority as specified under the Companies Act, 2013, which was successfully met.

A total of 2,751,170 shares participated in the e-voting process. The resolution received 2,680,370 votes in favour, representing 97.43% of the total votes cast and 62.98% of the company's paid-up capital. Conversely, 70,800 votes were cast against the resolution, accounting for 2.57% of the total votes.

Summary of E-Voting Results

The company disclosed the outcome to the National Stock Exchange of India Limited under Regulation 44(3) of the SEBI (LODR) Regulations, 2011. The filing confirmed that the resolution has been passed as a special resolution.

Solve Plastic Products Limited has established a Structured Digital Database (SDD) for the financial year ended March 31, 2026, in compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. The company's compliance officer, Divya Ajanthakumari, declared that two designated persons shared unpublished price sensitive information (UPSI) during the period. The shared information included Financial Results and Financial Data for Audit, which were disseminated to statutory and internal auditors for legitimate purposes.

The compliance certificate issued by CaesarPintoJohn & Associates LLP certifies that the company has a non-tamperable SDD in place with access controls and an audit trail maintained for eight years. The auditors confirmed that the company was required to capture six events during the reporting period and that these events have been recorded in the database. The system captures the nature of UPSI along with the date and time of dissemination.

However, the auditors observed specific lapses in the recording process. Certain entries pertaining to the sharing of UPSI were not recorded in the SDD on a contemporaneous basis at the relevant point in time. These entries were subsequently updated in the database by the company. The delay in recording was noted during the verification process conducted by the company secretaries.

The following details outline the specific UPSI shared during the financial year:

In response to the findings, the management of solve plastic products informed the auditors that corrective steps and process strengthening measures have been initiated. The objective of these measures is to ensure the timely and contemporaneous recording of UPSI events in the future. The certificate is dated May 30, 2026, and forms part of the company's regulatory submissions.