Tirth Plastic Limited announced on July 4, 2026, that its board approved the preferential allotment of up to 45,00,000 equity shares to strengthen its capital base. The shares, with a face value of ₹10 each, will be issued at a price of ₹28 per share, including a premium of ₹18, to persons belonging to the non-promoter category. The fund-raising proposal is subject to necessary statutory and shareholder approvals.

The board appointed M/s. A. Shah & Associates, a Practicing Company Secretary, to act as the scrutinizer for the postal ballot process. The company will issue a notice of postal ballot and e-voting in due course, pursuant to Section 108 and 110 of the Companies Act, 2013, and relevant rules.

Issue Details

The preferential allotment involves 42 identified allottees, comprising individuals and entities. The consideration for the allotment will be paid in cash.

The list of allottees includes Jatin Bansidhar Sonawala, Pragneshkumar Girishchandra Dave, and Sellwin Traders Limited, among others. The meeting commenced at 6:00 p.m. and concluded at 6:30 p.m.

Tirth Plastic Limited has entered into a Memorandum of Understanding (MOU) with M/S Krishna Plastic Traders on June 3, 2026, to establish a framework for the strategic association and proposed investment involving the acquisition of the business undertaking of Krishna Plastic Traders (KPT). The agreement outlines the company's intent to evaluate and potentially take over the business operations, assets, property, employees, liabilities, contracts, intellectual property, licenses, and goodwill of KPT, subject to specific conditions.

The completion of the proposed acquisition is contingent upon satisfactory financial, technical, legal, and commercial due diligence, as well as an independent valuation of the business enterprise. Additionally, the transaction requires approval from the Board of Directors, shareholders, stock exchanges, and other relevant regulatory authorities before the execution of definitive agreements.

Terms of Consideration

Subject to the completion of valuation and receipt of necessary approvals, Tirth Plastic Limited plans to discharge the acquisition consideration through one or a combination of the following modes. The final structure will be determined based on valuation, compliance, tax efficiency, and mutual agreement between the parties involved.

Regulatory Disclosures

The disclosure was made to the stock exchanges pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the broad terms of the MOU do not involve any promoter or promoter group participation beyond the standard acquisition framework.