AVI Polymers Limited, a company listed on the Bombay Stock Exchange (Scrip Code: 539288), has announced significant changes to its board composition and auditing team following a board meeting held on September 5, 2025. The company has made multiple appointments and accepted several resignations, signaling a substantial restructuring of its leadership and compliance teams.

New Appointments

The board of AVI Polymers has approved the appointment of three new directors:

1. Mr. Sadhu Jignesh Harendrabhai (DIN: 11278005) has been appointed as an Additional Non-Executive Independent Director. Mr. Harendrabhai holds a BSc degree.

2. Ms. Varsha Prajapat (DIN: 11277997) has also been appointed as an Additional Non-Executive Independent Director. Ms. Prajapat is a graduate with an MA degree.

3. Mr. Harsh Parmar (DIN: 11279019) has been appointed as an Additional Executive Director. Mr. Parmar is a B.Com graduate.

All three appointments are effective from September 5, 2025. While Mr. Harendrabhai and Ms. Prajapat will not be liable to retire by rotation, Mr. Parmar's position will be subject to retirement by rotation.

Resignations

Simultaneously, the company has accepted resignations from several key positions:

1. Ms. Sapna (DIN: 10294154) and Mr. Ram Kumar Singh (DIN: 10871912) have stepped down from their roles as Non-Executive Independent Directors, citing pre-occupation with other professional commitments.

2. Ms. Ritu Tiwari, the Company Secretary and Compliance Officer, has resigned to pursue opportunities outside the company. Her resignation is effective from the close of business hours on September 5, 2025.

Changes in Auditing Team

AVI Polymers has also made changes to its secretarial auditing team:

1. M/s. Jalan Alkesh & Associates, the previous Secretarial Auditors, have resigned due to pre-occupation with other professional assignments.

2. The board has appointed M/s SCS & CO. LLP, Practicing Company Secretaries from Ahmedabad, as the new Secretarial Auditors for the Financial Year 2024-25. The firm, led by Mr. Abhishek Chhajed (FCS 11334, COP No.: 15131), brings over 7 years of professional experience in various areas of corporate law and compliance.

Implications and Compliance

These changes come as part of the company's ongoing efforts to strengthen its corporate governance and comply with regulatory requirements. The appointments and resignations have been made in accordance with the provisions of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

AVI Polymers has assured that all necessary steps will be taken to ensure a smooth transition, including filing the required statutory forms with the Registrar of Companies.

The board meeting, which commenced at 11:30 a.m. and concluded at 11:45 a.m. on September 5, 2025, marks a significant day of transition for AVI Polymers Limited as it moves forward with its restructured leadership team.

Rootsparkle Trading Private Limited has launched an open offer to acquire a significant stake in AVI Polymers Limited, marking a potential shift in the company's ownership structure. The move comes as part of a strategic initiative under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Key Details of the Open Offer

Regulatory Compliance and Public Disclosure

The open offer adheres to regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. In compliance with regulatory requirements, post-offer advertisements have been published in multiple newspapers to ensure wide dissemination of information:

• Financial Express (National English Daily: All Editions)
• Jansatta (National Hindi Daily: All Editions)
• Sanmarg (Regional Hindi Daily: Ranchi Edition)
• Mumbai Lakshadeep (Regional Marathi Daily: Mumbai Edition)

Offer Management

Grow House Wealth Management Private Limited is managing the offer process, with Hill Shah serving as the Director. This arrangement ensures professional handling of the acquisition proceedings.

Recent Corporate Developments

The LODR data reveals that AVI Polymers Limited has scheduled a Board of Directors meeting for August 13, 2025, at the company's registered office. The agenda includes:

1. Consideration and approval of unaudited financial results for the quarter ended June 30, 2025.
2. Any other business matters, with the permission of the Chair.

This meeting, announced on August 8, 2025, suggests that the company continues to maintain its regular corporate governance practices amidst the ongoing open offer process.

Market Implications

The open offer at ₹13.00 per share provides an opportunity for existing shareholders to evaluate their investment in AVI Polymers. The outcome of this offer could potentially lead to a change in the company's control and strategy, making it a significant event for stakeholders to monitor.

As the open offer unfolds, market participants will be keenly watching for any updates on the acceptance rate and the subsequent impact on AVI Polymers' shareholding pattern and future direction.