Tirth Plastic Limited shareholders are voting on a special resolution to approve a ₹13,50,00,000 preferential issue of fully convertible warrants and the appointment of an independent director. The proposal, approved by the Board on July 4, 2026, aims to fund strategic acquisitions, specifically M/s Krishna Plastic Traders’ manufacturing unit, while strengthening the company’s capital base. This financing move is critical for supporting inorganic growth and meeting working capital needs.

The voting process is governed by Section 110 of the Companies Act, 2013, and Regulations 29, 30, and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. E-voting and postal ballot facilities are available from 9:00 a.m. on July 25, 2026, until 5:00 p.m. on August 23, 2026. The cut-off date for determining voting rights is July 21, 2026. M/s A. Shah & Associates has been appointed as the scrutinizer to ensure a fair process, with results expected by August 25, 2026.

Warrant Structure and Pricing

The warrants carry a face value of ₹10 each and are convertible into one equity share of the same face value. Pricing was determined based on Regulation 164(1) of the SEBI ICDR Regulations, with a relevant date of July 24, 2026. The floor price was calculated at ₹29.13, leading the Board to fix the issue price at ₹30. Valuation reports were obtained from M/s Shweta Jain & Co LLP.

Investors must pay 25% of the issue price upfront as the Warrant Subscription Price. The remaining 75% is payable upon exercise of the conversion option within 18 months from allotment. If not exercised, the entitlement expires, and amounts paid are forfeited. The resulting equity shares will rank pari-passu with existing shares regarding dividends and voting rights.

Allottees and Shareholding Impact

The warrants are being allotted to 42 non-promoter entities, including individuals, HUFs, and companies such as Sellwin Traders Limited and Mideast Healthcare Pvt Ltd. Thakor Rohit Popatji is the largest proposed allottee, receiving 880,000 warrants. Post-conversion, promoter holding is expected to dilute from 23.53% to 11.70%, while non-promoter holding will increase from 76.47% to 88.30%. The company states there will be no change in management or control consequent to the issue.

Board Appointment

In a separate resolution, shareholders will vote to appoint Ms. Nidhi Bharatbhai Gandhi as a Non-Executive Independent Director for a five-year term effective from February 5, 2026. She was initially appointed as an Additional Director in February 2026. Ms. Gandhi brings experience in customer relationship management and operations coordination across telecom and logistics sectors. Her appointment is subject to shareholder approval under Section 149 of the Companies Act, 2013.

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.