Sanmitra Commercial Limited has successfully completed the acquisition of Tandhan Polyplast Limited (TPL), marking a significant expansion into the plastic and polymer-based products industry. The deal, valued at Rs 44.61 crore, was executed through a share swap arrangement, as disclosed by the company in its latest regulatory filing.

Acquisition Details

The acquisition involved Sanmitra Commercial acquiring a 100% equity stake in TPL, comprising 1,21,00,000 equity shares of Rs 10 each. In exchange, Sanmitra allotted 2,97,41,799 equity shares at Rs 15 per share to TPL's shareholders, who now fall under the non-promoter public category.

About Tandhan Polyplast Limited

TPL, incorporated on May 16, 2018, is a public limited company specializing in the manufacturing, trading, and supply of a wide range of plastic and polymer-based products. The company's product line includes:

• Polyethylene and PVC tarpaulins
• Canvas tarpaulins
• Cross-laminated sheets
• Silnylon
• Woven polyester fabrics
• Other waterproofing materials

With its expertise in extrusion and lamination processes, TPL caters to diverse industrial and commercial needs in both domestic and international markets.

Financial Performance

TPL has shown consistent growth over the past three years:

Additional Capital Raising

In addition to the acquisition, Sanmitra Commercial has made multiple preferential allotments to strengthen its capital base:

1. Allotment of 21,25,000 equity shares at Rs 15 each, raising Rs 3.19 crore.
2. Allotment of 1,68,05,701 equity shares at Rs 40 each, raising Rs 67.22 crore.
3. Allotment of 78,25,000 convertible warrants at Rs 15 each.

All these allotments were made to investors in the non-promoter public category.

Strategic Implications

This acquisition is strategically aimed at expanding Sanmitra Commercial's presence in the plastic and polymer-based products industry. By integrating TPL's operations, Sanmitra is poised to gain a stronger foothold in this sector, potentially leading to synergies and expanded market opportunities.

Regulatory Compliance

The acquisition has triggered an open offer under SEBI regulations. Mr. Ankit Jalan and Mr. Anuj Jalan, along with six other individuals acting in concert, are set to be classified as the new promoters of Sanmitra Commercial upon successful completion of the open offer. The existing promoter and promoter group members will be reclassified as public shareholders.

This strategic move by Sanmitra Commercial Limited represents a significant step in its growth trajectory, potentially reshaping its market position in the plastic and polymer products industry.

Sanmitra Commercial Limited has announced a revision in the allocation of equity shares for its preferential issue, while maintaining the total issue size of 3,12,500 shares. The company's Board of Directors has approved a reallocation among three allottees, affecting Item Number 6 of the AGM Notice for the company's 41st Annual General Meeting scheduled for September 24, 2025.

Details of the Revised Allocation

The revised allocation of shares is as follows:

Key Points of the Revision

• The total issue size remains unchanged at 3,12,500 shares.
• Manoj Jain's allocation has increased by 25,000 shares.
• Leena Harshal Agrawal's allocation has decreased by 37,500 shares.
• Amit Ashok Todkari's allocation has increased by 12,500 shares.

Impact on AGM Notice

This modification affects Item Number 6 of the AGM Notice for Sanmitra Commercial Limited's 41st Annual General Meeting. The company has stated that all other terms and conditions of the preferential issue remain unchanged.

Company's Statement

In its communication to the BSE, Sanmitra Commercial Limited stated, "Accordingly, the resolution and explanatory statement at Item Number 6 of the AGM Notice stands modified to the extent of the above change. All other terms and conditions of the preferential issue as set out in the AGM Notice remain unchanged."

The company has also informed that this Corrigendum shall form an integral part of the AGM Notice dated September 2, 2025 and should be read in conjunction with it.

Investors and shareholders are advised to take note of these changes when reviewing the AGM Notice and considering their voting decisions for the upcoming Annual General Meeting.