Valplast Technologies Limited has received shareholder approval to reallocate unutilized Initial Public Offer (IPO) proceeds amounting to ₹4.95 crore from capital expenditure (CAPEX) to working capital and general corporate purposes. The special resolution was passed via remote e-voting on June 28, 2026, with 96.28% of the votes cast in favour, allowing the company to modify the object of the issue stated in its Red Herring Prospectus dated September 22, 2025. This strategic shift aims to align financial resources with evolving business requirements and emerging opportunities to support long-term growth and enhance shareholder value.

The Board of Directors approved the revision on May 20, 2026. The reallocation involves funds originally earmarked for CAPEX, which will now be directed towards working capital needs and general corporate purposes. The company stated that the proposed changes are necessitated by evolving business requirements to ensure optimal deployment of funds.

The postal ballot process, conducted entirely through remote e-voting, commenced on May 30, 2026, and concluded on June 28, 2026. A total of 20 shareholders participated, casting 1,29,81,943 votes. The resolution required a special majority under the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting Results Summary

Mr. Rajat Mishra, Practicing Company Secretary, was appointed as the scrutinizer to oversee the voting process. The company has disclosed that none of the directors or key managerial personnel, other than their shareholdings, have any financial interest in the resolution. The detailed results and scrutinizer's report have been hosted on the company's website.

Valplast Technologies Ltd has accepted the resignation of Mr. Sundar Singh from the position of Company Secretary and Compliance Officer. The resignation is effective from the close of business hours on July 28, 2026. Mr. Singh cited personal reasons for stepping down from his role at the company.

The company confirmed that there are no other material reasons for the resignation beyond those stated in his resignation letter. The intimation was submitted to the stock exchange in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015. The necessary filings with the Ministry of Corporate Affairs and Registrar of Companies will be processed to give effect to the resignation.

Resignation Details

The following table outlines the key details regarding the change in the company's compliance officer position:

The resignation was formally accepted by the Board of Directors on June 29, 2026. Mr. Rajeev Tyagi, Whole Time Director of Valplast Technologies Limited, signed the regulatory filing submitted to BSE Limited.