LK Mehta Polymers Limited has initiated a postal ballot to seek shareholder approval for material related party transactions. The company aims to conduct business with M/s Kamlesh Industries, involving transactions up to ₹10 crore during the fiscal year 2025-26.

Transaction Details

Voting Process

The company has scheduled an e-voting period for shareholders to cast their votes on this proposal:

This move by L.K. Mehta Polymers Limited to seek shareholder approval for related party transactions aligns with corporate governance practices, ensuring transparency in its business operations. Shareholders will have the opportunity to review and vote on these proposed transactions, which could potentially impact the company's financial position and operations in the upcoming fiscal year.

The outcome of this postal ballot may influence the company's business relationships and operational strategies, particularly in its dealings with M/s Kamlesh Industries. Investors and stakeholders may want to closely monitor the voting results and any subsequent announcements from the company regarding these proposed transactions.

LK Mehta Polymers Limited has reported full compliance in the utilization of its Initial Public Offering (IPO) proceeds for the half-year ended September 30, 2025. The company has confirmed that there were no deviations from the intended use of funds raised through its public issue.

IPO Fund Utilization

The company provided a detailed breakdown of its IPO fund utilization:

LK Mehta Polymers has utilized INR 6.62 crores out of the total IPO funds of INR 7.38 crores. The remaining amount of INR 76.59 lakhs is currently held in a fixed deposit with HDFC Bank.

Fund Allocation

The company stated that the funds have been used as per the original plan outlined in their IPO prospectus:

1. Funding Working Capital Requirements
2. General Corporate Purposes
3. IPO-related Expenses

Regulatory Compliance

In adherence to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, LK Mehta Polymers submitted a statement confirming no deviations or variations in the use of IPO proceeds. This statement was reviewed and approved by both the Audit Committee and the Board of Directors in their meeting held on November 14, 2025.

Additional Corporate Actions

The company also disclosed other significant corporate actions in its LODR filing:

1. Approval of Unaudited Financial Results for H1 2025
2. Initiation of a Postal Ballot process
3. Appointment of a Scrutinizer for the Postal Ballot (E-Voting)
4. Setting November 14, 2025, as the cut-off date for determining shareholder eligibility for the Postal Ballot notice
5. Appointment of CDSL as the E-Voting agency

These actions demonstrate LK Mehta Polymers' commitment to transparency and regulatory compliance in its operations and shareholder engagement.

The company's proactive disclosure and proper utilization of IPO funds reflect positively on its corporate governance practices, which may be of interest to current and potential investors.