Axel Polymers Limited , a Gujarat-based company, has announced significant changes to its board of directors and key committees, marking a new chapter in its corporate governance structure.

New Independent Director Appointment

The company has appointed Ashokkumar Natwarlal Shah as an Additional Director and Independent Director for a five-year term, effective August 18, 2025. Shah, 71, brings a wealth of experience to the role, with 43 years of corporate expertise in finance, accounts, taxation, legal, and commercial areas.

Professional Background

Shah's impressive career includes:

• A Bachelor of Commerce degree and a Post Graduation Diploma in Tax Practice
• Current role as an Independent Director at Steelco Gujarat Limited
• Position as Finance Controller at Hi-Mak Pvt Ltd
• Previous executive roles at SS Automation Pvt Ltd and Hemant Plastics and Chemicals Limited
• Senior management positions in finance and accounts at various companies

Committee Restructuring

In light of Shah's appointment, Axel Polymers has reconstituted its key committees:

• Audit Committee
• Nomination and Remuneration Committee
• Stakeholders Relationship Committee

Shah has been inducted into all three committees, strengthening the company's governance framework.

Outgoing Director

Simultaneously, the company bid farewell to Haresh Padamshi Kothari, whose tenure as Independent Director concluded at the close of business on August 18, 2025. Kothari completed his second and final term, stepping down from his roles in the aforementioned committees as well.

Board Meeting Details

The board meeting where these decisions were made took place on August 18, 2025, from 2:00 PM to 2:45 PM. The company has duly informed the BSE Limited of these changes, in compliance with SEBI regulations.

These strategic moves reflect Axel Polymers' commitment to maintaining strong corporate governance and bringing fresh perspectives to its leadership team. The appointment of Shah, with his extensive experience in finance and corporate management, is expected to contribute significantly to the company's future growth and strategic direction.

Axel Polymers Limited has successfully completed its preferential share allotment, raising ₹11.18 crores through the issuance of equity shares to 50 investors. The Board of Directors approved the allotment on December 13, 2025, following shareholder approval and regulatory clearances.

Allotment Details

The company allotted 24,84,444 equity shares of face value ₹10 each at an issue price of ₹45 per share, including a premium of ₹35 per share. The allotment was made on a preferential basis under the public category, raising a total of ₹11,17,99,980.

This represents a reduction from the originally proposed 28,28,891 shares that were approved for ₹12.73 crores, indicating that the final allotment was made to fewer investors than initially planned.

Capital Structure Changes

Following the allotment, the company's capital structure has been significantly enhanced. The issued, subscribed, and paid-up capital increased from ₹8.52 crores to ₹11.00 crores.

Promoter Shareholding Impact

The preferential allotment has resulted in a dilution of promoter shareholding. The promoter and promoter group holding decreased from 60.28% to 46.67% of the total issued capital, while maintaining the same absolute number of shares at 51,34,240.

Investor Profile and Lock-in

The allotment was made to 50 investors under the public category, with the securities being subject to lock-in restrictions as prescribed under Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The newly allotted equity shares will rank pari passu with existing equity shares in all respects, including dividend payments and voting rights.

The successful completion of this preferential issue provides Axel Polymers with additional capital to support its business operations and growth initiatives in the polymer industry. The company had previously reported improved financial performance in Q1 FY2026, turning profitable after losses in the corresponding previous quarter.