AVI Polymers Ltd has announced the incorporation of its wholly owned subsidiary, marking a strategic expansion into the energy sector. The Ministry of Corporate Affairs approved the incorporation of AVI ECO SPARK PRIVATE LIMITED on February 21, 2026, and issued the Certificate of Incorporation on the same date.

Subsidiary Details and Structure

The newly incorporated subsidiary operates under specific parameters designed for energy sector operations:

Business Objectives and Operations

AVI ECO SPARK PRIVATE LIMITED has been established with the primary objective of generating electric energy and power. This represents a diversification from AVI Polymers' main line of business, as the parent company ventures into the energy generation sector. The subsidiary's business model focuses on power generation activities within India's energy landscape.

Financial and Regulatory Framework

The incorporation involved 100% initial subscription to the share capital through cash or banking channel. As a wholly owned subsidiary, AESPL is classified as a related party to AVI POLYMERS LIMITED, with the parent company serving as the promoter. The regulatory filing indicates that no additional governmental or regulatory approvals were required for this acquisition beyond the standard incorporation process.

Strategic Implications

The establishment of this subsidiary represents AVI Polymers' entry into the energy sector, specifically focusing on electric energy and power generation. Being incorporated on February 21, 2026, the subsidiary currently has no operational turnover, as expected for a newly established entity. The company's presence is limited to India, aligning with the domestic focus of the parent organization.

This corporate development was disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with listing requirements and maintaining transparency with stakeholders regarding the company's expansion strategy.

AVI Polymers Limited has announced a further extension of its ₹90.00 crore rights issue closing date, moving it from March 16, 2026 to March 17, 2026. The board of directors approved this change during their meeting held on February 19, 2026, to provide shareholders with additional opportunity to exercise their rights in the offering.

Rights Issue Structure and Pricing

The rights issue comprises up to 9,00,000 fully paid-up equity shares with a face value of ₹10 each, priced at ₹10.00 per share. The company is offering these shares to eligible equity shareholders in the ratio of 22 rights equity shares for every 1 fully paid-up equity share held on the record date.

Latest Revised Timeline and Key Dates

Following the board meeting held on February 19, 2026, the company has updated the rights issue schedule with the extended closing date. The last date for submission of the duly filled Common Application Form (CAF) along with the amount payable on application remains March 16, 2026.

Application Process and Regulatory Framework

The rights issue will be conducted under the ASBA (Applications Supported by Blocked Amount) process, with applications accepted through Self Certified Syndicate Banks (SCSBs). Eligible shareholders can apply for their full entitlement, partial entitlement, or additional shares beyond their rights entitlements. The company has also provided for plain paper applications under specific circumstances as per SEBI regulations.

Allotment will be made only in dematerialized form, and shareholders holding physical shares must provide demat account details at least two working days prior to the issue closing date. The company's shares are listed on BSE Limited under scrip code 539288.

Corporate Leadership and Compliance

Managing Director Chintan Yashwantbhai Patel (DIN: 10774473) has signed the regulatory communications, ensuring compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The board meeting was conducted at the company's registered office and concluded at 07:30 P.M.

MCS Share Transfer Agent Limited serves as the registrar to the issue, while IndusInd Bank Limited acts as the escrow collection bank, allotment account bank, and refund banker. The company's registered office is located in Ranchi, Jharkhand, with corporate office operations in Anand, Gujarat.