AVI Polymers Limited has issued a clarification regarding its board meeting outcome dated September 5, 2025, addressing missing disclosure requirements under SEBI regulations. The company submitted a revised intimation on December 16, 2025, to the Bombay Stock Exchange, acknowledging that it had erroneously missed certain mandatory disclosures for resigning independent directors.

Clarification Details

The company's Managing Director, Chintany Ashwantbhai Patel (DIN: 10774473), informed the exchange that the original board meeting outcome failed to include required disclosures under Part A of Schedule III of SEBI (LODR) 2015. Specifically, the company missed mentioning the names of listed entities where resigning directors hold directorships, along with their category of directorship and board committee memberships.

Board Changes Summary

The September 5, 2025 board meeting involved significant leadership restructuring:

New Appointments:

• Mr. Sadhu Jignesh Harendrabhai (DIN: 11278005) - Additional Non-Executive Independent Director (BSc graduate)
• Ms. Varsha Prajapat (DIN: 11277997) - Additional Non-Executive Independent Director (MA graduate)
• Mr. Harsh Parmar (DIN: 11279019) - Additional Executive Director (B.Com graduate)

Resignations:

• Ms. Sapna (DIN: 10294154) - Non-Executive Independent Director
• Mr. Ram Kumar Singh (DIN: 10871912) - Non-Executive Independent Director
• Ms. Ritu Tiwari - Company Secretary and Compliance Officer

Resigning Directors' Other Directorships

The revised disclosure reveals the external directorships of resigning independent directors:

Ms. Sapna's Directorships:

Mr. Ram Kumar Singh's Directorships:

Auditor Changes

The board meeting also addressed changes in the secretarial auditing team:

• Resignation: M/s. Jalan Alkesh & Associates stepped down due to other professional commitments
• Appointment: M/s SCS & CO. LLP, led by Mr. Abhishek Chhajed (FCS 11334), was appointed as new Secretarial Auditors for FY 2024-25

Compliance and Regulatory Framework

The clarification demonstrates AVI Polymers' commitment to regulatory compliance under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has assured that all necessary statutory forms will be filed with the Registrar of Companies in accordance with the Companies Act, 2013.

The board meeting, which lasted from 11:30 a.m. to 11:45 a.m. on September 5, 2025, represents a significant transition period for the company as it strengthens its corporate governance framework with new leadership appointments.

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.