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Valplast Technologies Limited Proxy Solicitation & Information Statement 2026
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Proxy Solicitation & Information Statement
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VALPLAST TECHNOLOGIES LIMITED
www.valplastech.com
VALPLAST
Date: 29th May, 2026
To
Head of the Department,
Department of Listing Operation,
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai 400001
Scrip Code: 544565
Subject: Subject: Intimation regarding Notice of Postal Ballot.
Reference: Regulation 30 and 44 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”)
Dear Sir/ Ma’am,
With reference to the captioned subject and pursuant to regulation 30 of SEBI Listing Regulations, we are enclosing herewith a copy of the Postal Ballot Notice (“Notice”) dated May 29th, 2026 along with explanatory statement for seeking approval of the Members of the Company on the special business through e-voting on the following matter:
| Sr. No. | Description of Resolution | Type of Resolution |
|---|---|---|
| 1. | Utilization of Issued Fund Mentioned in the red herring prospectus | |
| General Corporate Purposes for other purposes and/or to change the | ||
| Object of the Issue fund Mentioned in the red herring prospectus | Special Resolution |
In accordance with the applicable circulars issued by Ministry of Corporate Affairs (“MCA Circular”), this Notice is sent through electronic mode only to those members whose names appear in the Register of Members/ list of Beneficial Owners maintained by the Company/ Registrar and Transfer Agent (“RTA”) / Depositories, as on Friday, May 22, 2026 (“Cut-Off date”) and whose email addresses are registered with the Company/ RTA/ Depositories as on the Cut-Off date.
The Company has availed the services of i-Vote Bigshare (Bigshare Services Pvt. Ltd), for facilitating remote e-voting to enable the Members to cast their votes electronically. The remote e-voting period commence on Saturday, May 30, 2026 (09:00 A.M. IST) and end on Sunday, June 28, 2026 (5.00 P.M. IST) (both days inclusive). The remote e-voting module shall thereafter be disabled.
The said notice is also made available on the website of the Company at https://valplastech.com
Kindly take the above information on record.
Thanking you,
Yours faithfully,
For VALPLAST TECHNOLOGIES LIMITED
Sundar Singh
(Sundar Singh
(Company Secretary)
Membership No. A68680
Date: 29.05.2026
Place: Noida
We Do Challenging Jobs
Registered Office :
Unit BH-1025, 10th Floor,
Puri Business Hub, 81 High Street,
Sector 81, Faridabad, Haryana-121004
☎ : 0129-2977000
📧 : [email protected]
Corporate Office :
Unit No. 1109, 11th Floor, Tower-A,
Advant IT Park, Plot No. 7,
Sector 142, Expressway Noida-201305
📞 : 0120-4269333
📧 : [email protected]
IAF
ISO 14001:2004
CERTIFICATION
INTEGRER AFFILIATION
Management Systems
Certification Body
MSCE-121
CIN : L45400HR2014PLC094931
VALPLAST TECHNOLOGIES LIMITED
www.valplastech.com
VALPLAST
INFORMATION AT A GLANCE
| Details of Resolution | : | APPROVAL FOR CHANGE THE OBJECT OF THE ISSUE FUND MENTIONED IN THE RED HERRING PROSPECTUS(RHP) |
|---|---|---|
| Type of Resolution | : | Special Resolution |
| Cut-off date for sending the Notice to eligible shareholders | : | Friday, 22nd May, 2026 |
| Cut-off date for determining eligibility for e-voting | : | |
| E-voting start date and time | : | Saturday, 30th May, 2026 at 09:00 A.M. (IST) |
| E-voting end date and time | : | Sunday, 28th June, 2026 at 05:00 P.M. (IST) |
NOTICE OF POSTAL BALLOT
Dear Member(s),
Notice is hereby given that pursuant to the provisions of Sections 108 and 110 of the Companies Act, 2013, (the Act), read with Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014, as amended (Rules), read with the General Circular Nos. 14/2020 dated 8th April, 2020, 17/2020 dated 13th April, 2020 and subsequent circulars issued from time to time, the latest one being General Circular No. 09/2024 dated 19th September, 2024 issued by the Ministry of Corporate Affairs (MCA Circulars) and any other applicable law, rules and regulations (including any statutory modification(s) or re-enactment(s) thereof, for the time being in force and as amended from time to time), the Special Resolution as set out in this Notice is proposed for consideration by the Members of the Company for passing by means of Postal Ballot by voting through electronic means only.
An Explanatory Statement pursuant to Section 102 and other applicable provisions, if any, of the Act, pertaining to the resolution setting out the material facts and reasons thereof, is appended to this Postal Ballot Notice.
In compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (Listing Regulations) and pursuant to the provisions of Sections 108 and 110 of the Act read with the Rules framed thereunder and the MCA Circulars, the manner of voting on the proposed resolutions is restricted only to e-voting i.e., by casting votes electronically instead of submitting postal ballot forms. Accordingly, the Postal Ballot Notice along with the instructions for e-voting is being sent only through electronic mode to those Members whose email addresses are registered with the Company/ Depository Participant(s). The details of the procedure to cast the vote form part of the Notes to this Notice.
The e-voting period commences from 09.00 A.M. (IST) on Saturday, 30th May, 2026 and ends at 05.00 P.M. (IST) on Sunday, 28th June, 2026.
At its meeting held on 20th May, 2026, the Board appointed Mr. Rajat Mishra (ACS: 47538 and COP No.: 25385) Practicing Company Secretary, to act as the Scrutinizer, for conducting the Postal Ballot process, in a fair and transparent manner. The Scrutinizer will submit his report to the Chairman of the Company (the Chairman), and the results of the voting by Postal Ballot will be announced not later than 2 (two) working days of the conclusion of the e-voting. The results declared along with the Scrutinizer's Report shall be communicated in the manner provided in this Postal Ballot Notice.
We Do Challenging Jobs
Registered Office :
Unit BH-1025, 10th Floor,
Puri Business Hub, 81 High Street,
Sector 81, Faridabad, Haryana-121004
: 0129-2977000
: [email protected]
Corporate Office :
Unit No. 1109, 11th Floor, Tower-A,
Advant IT Park, Plot No. 7,
Sector 142, Expressway Noida-201305
: 0120-4269333
: [email protected]
IAF
ISO 14001:2015 CERTIFICATION
INTERCERT ACCREDITED Management Systems Certification Body MSCB-121
CIN: L45400HR2014PLC094931
VALPLAST
The said results along with the Scrutinizer's Report would be intimated to BSE Limited, where the Equity Shares of the Company are listed. The results will also be uploaded on the Company's website at www.valplastech.com and on the website of Bigshare Services Private Limited (RTA) at www.bigshareonline.com.
SPECIAL BUSINESS:
1. APPROVAL FOR CHANGE THE OBJECT OF THE ISSUE FUND MENTIONED IN THE RED HERRING PROSPECTUS(RHP):
To consider, and if thought fit, to pass, the following resolution as Special Resolution:
"RESOLVED THAT pursuant to the provisions of Sections 13, 27, 179 and other applicable provisions, if any, of the Companies Act, 2013 read with the relevant rules made thereunder, and in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations"), Regulation 32 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations"), and as per the approval of the Board, the consent of members of the company be and is hereby accorded to vary the utilization of the proceeds raised from the Company's Initial Public Offer (IPO) and to change or modify the object of utilization of the funds raised through the public issue as stated in the Red Herring Prospectus dated 22nd September 2025.
RESOLVED FURTHER THAT the funds of proceed originally proposed to be utilized for General Corporate Purposes(GCP), working capital, issue expenses and purpose of Capital goods(CAPEX) including but not limited to the payment mentioned in the red herring prospectus whether arising in the ordinary course of business or in connection with the issue purpose/objects as stated in the Red Herring Prospectus the unutilised proceed of the issue kept for CAPEX to be revised and changed to Working Capital and General Corporate Purpose (GCP) of the company and in such manner as may be detailed in the explanatory statement to the shareholders.
RESOLVED FURTHER THAT any Director or the Company Secretary of the Company be and is hereby authorized to:
- convene a General Meeting / Postal Ballot of the shareholders of the Company to seek approval for the said change in the object of the issue;
- finalize and issue the notice of the meeting along with the explanatory statement;
- file necessary forms with the Ministry of Corporate Affairs and other regulatory authorities;
- make necessary disclosures to the stock exchanges and comply with the applicable regulations of the Securities and Exchange Board of India; and
- do all such acts, deeds, matters and things as may be necessary to give effect to this resolution.
NOTES:
- The Explanatory Statement and reasons for the proposed Special Resolution pursuant to Section 102 of the Act setting out material facts are appended herein below.
- In compliance with the MCA Circulars, the Notice is being sent by electronic mode only to those Members whose names appear in the Register of Members/ List of Beneficial Owners maintained by the Company and as received from National Securities and Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) (Depositories) as on Friday, May 22, 2026 and whose e-mail IDs are registered with the Company / Depository Participants. For Members who have not registered their e-mail IDs, please follow the instructions given under Note No. 8.
- In accordance with the MCA Circulars, physical copies of the Notice are not being sent to Members for this Postal Ballot. Members are requested to provide their assent or dissent through e-voting only.
- The Members, whose names appear in the Register of Members / List of Beneficial Owners as received from Depositories as on Friday, May 22, 2026, being the cut-off date, are entitled to vote on the
VALPLAST
Resolution set forth in this Notice. A person who is not a member as on the cut-off date should treat this Notice of Postal Ballot for information purpose only. The voting rights of Members shall be in proportion to their shares of the paid-up equity share capital of the Company as on Friday, May 22, 2026, being the cut-off date fixed for the purpose.
-
In compliance with provisions of Section 108 and Section 110 and other applicable provisions of the Act read with the Companies (Management & Administration) Rules, 2014, the Company is pleased to offer e-voting facility to all the Members for voting on the resolution set forth in the Notice. For this purpose, the Company has availed the service of Bigshare Services Private Limited, Registrar and Share Transfer Agent (RTA) of the Company.
-
Members may please note that the Postal Ballot Notice will also be available on the Company's website at https://valplastech.com, websites of the Stock Exchanges i.e. BSE Limited at www.bseindia.com and on the website of Bigshare Services Private Limited at www.bigshareonline.com.
-
All the material documents referred to in the Explanatory Statement, shall be available for inspection for Members through electronic mode from Saturday, May 30, 2026 to Sunday, June 28, 2026, basis the request being sent on [email protected] mentioning their name, Folio no. / Client ID and DP ID, and the documents they wish to inspect, with a self-attested copy of their PAN card attached to the email.
-
Those Members who are holding shares in physical form and have not updated their e-mail ids with the Company, are requested to update the same by submitting a duly filled and signed Form ISR-1 (Form for registering PAN, KYC details or changes / updation thereof) along with self-attested copy of the PAN Card, and self-attested copy of any document as address proof (e.g. Driving License, Voter Identity Card, Passport, Masked Aadhaar, etc.), to the Company's RTA at the below mentioned address or by e-mail to [email protected] from their registered email address:
Bigshare Services Private Limited, Office No S6-2, 6th floor Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East) Mumbai - 400093, India.
- The Scrutinizer will submit his report to the Chairman after completion of the scrutiny and the results of the e-voting by Postal Ballot will be announced on or before Tuesday, June 30, 2026. The Resolution, if passed by 75% of shareholders shall be deemed to have been passed on Sunday, June 28, 2026 being the last date specified by the Company for e-voting.
The declared results along with the Report of the Scrutinizer shall be forwarded to the BSE Limited and shall be uploaded on the website of the Company i.e., www.valplastech.com and website of Bigshare Services Private Limited at www.bigshareonline.com.
VALPLAST
E-VOTING INSTRUCTIONS FOR POSTAL BALLOT ARE AS UNDER:
i. The voting period begins on Saturday, 30th May, 2026 at 09:00 A.M. (IST) and ends on Sunday, 28th June, 2026 at 05:00 P.M. (IST). During this period shareholders' of the Company, holding shares either in physical form or in dematerialized form, as on the cut-off date (record date) of 22nd May, 2026 may cast their vote electronically. The e-voting module shall be disabled by Bigshare for voting thereafter.
ii. Pursuant to SEBI Circular No. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated 09.12.2020, under Regulation 44 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, listed entities are required to provide remote e-voting facility to its shareholders, in respect of all shareholders' resolutions. However, it has been observed that the participation by the public non-institutional shareholders/retail shareholders is at a negligible level.
Currently, there are multiple e-voting service providers (ESPs) providing e-voting facility to listed entities in India. This necessitates registration on various ESPs and maintenance of multiple user IDs and passwords by the shareholders.
In order to increase the efficiency of the voting process, pursuant to a public consultation, it has been decided to enable e-voting to all the demat account holders, by way of a single login credential, through their demat accounts/ websites of Depositories/ Depository Participants. Demat account holders would be able to cast their vote without having to register again with the ESPs, thereby, not only facilitating seamless authentication but also enhancing ease and convenience of participating in e-voting process.
iii. In terms of SEBI circular no. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated December 9, 2020 on e-Voting facility provided by Listed Companies, Individual shareholders holding securities in demat mode are allowed to vote through their demat account maintained with Depositories and Depository Participants. Shareholders are advised to update their mobile number and email Id in their demat accounts in order to access e-Voting facility.
- Pursuant to above said SEBI Circular, Login method for e-Voting for Individual shareholders holding securities in Demat mode is given below:
| Type of shareholders | Login Method |
|---|---|
| Individual Shareholders holding securities in Demat mode with CDSL | 1) Users who have opted for CDSL Easi / Easiest facility, can login through their existing user id and password. Option will be made available to reach e-Voting page without any further authentication. The URL for users to login to Easi/Easiest is https://web.cdslindia.com/myeasitoken/home/login or visit CDSL website www.cdslindia.com and click on login icon & New System Myeasi Tab and then use your existing my easi username & password. |
| 2) After successful login the Easi / Easiest user will be able to see the e-Voting option for eligible companies where the evoting is in progress as per the information provided by company. On clicking the evoting option, the user will be able to see e-Voting page of BIGSHARE the e-Voting service provider and you will be re-directed to i-Vote website for casting your vote during the remote e-Voting period. Additionally, there is also links provided to access the system of all e-Voting Service Providers i.e. BIGSHARE, so that the user can visit the e-Voting service providers' website directly. | |
| 3) If the user is not registered for Easi/Easiest, option to register is available at |
VALPLAST
| Individual Shareholders holding securities in demat mode with NSDL | https://web.cdslindia.com/myeasitoken/Registration/EasiRegistration
4) Alternatively, the user can directly access e-Voting page by providing Demat Account Number and PAN No. from a link https://evoting.Cdslindia.com/Evoting/EvotingLogin. The system will authenticate the user by sending OTP on registered Mobile & Email as recorded in the Demat Account. After successful authentication, user will be able to see the e-Voting option where the evoting is in progress, and also able to directly access the system of all e-Voting Service Providers. Click on BIGSHARE and you will be re-directed to i-Vote website for casting your vote during the remote e-voting period.
1) If you are already registered for NSDL IDEAS facility, please visit the e-Services website of NSDL. Open web browser by typing the following URL: https://eservices.nsdl.com either on a Personal Computer or on a mobile. Once the home page of e-Services is launched, click on the “Beneficial Owner” icon under “Login” which is available under ‘IDEAS’ section. A new screen will open. You will have to enter your User ID and Password. After successful authentication, you will be able to see e-Voting services. Click on “Access to e-Voting” under e-Voting services and you will be able to see e-Voting page. Click on company name or e-Voting service provider name BIGSHARE and you will be re-directed to i-Vote website for casting your vote during the remote e-Voting period.
2) If the user is not registered for IDEAS e-Services, option to register is available at https://eservices.nsdl.com. Select “Register Online for IDEAS “Portal or click at https://eservices.nsdl.com/SecureWeb/IdeasDirectReg.jsp
3) Visit the e-Voting website of NSDL. Open web browser by typing the following URL: https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile. Once the home page of e-Voting system is launched, click on the icon “Login” which is available under ‘Shareholder/Member’ section. A new screen will open. You will have to enter your User ID (i.e. your sixteen digit demat account number hold with NSDL), Password/OTP and a Verification Code as shown on the screen. After successful authentication, you will be redirected to NSDL Depository site wherein you can see e-Voting page. Click on company name or e-Voting service provider name BIGSHARE and you will be redirected to i-Vote website for casting your vote during the remote e-Voting period.
4) For OTP based login you can click on https://eservices.nsdl.com/SecureWeb/evoting/evotinglogin.jsp. You will have to enter your 8-digit DP ID,8-digit Client Id, PAN No., Verification code and generate OTP. Enter the OTP received on registered email id/mobile number and click on login. After successful authentication, you will be redirected to NSDL Depository site wherein you can see e-Voting page with all e-Voting Service Providers. Click on BIGSHARE and you will be re-directed to i-vote (E-voting website) for casting your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting. |
| --- | --- |
| Individual Shareholders (holding securities in demat mode) login through their Depository Participants | You can also login using the login credentials of your demat account through your Depository Participant registered with NSDL/CDSL for e-Voting facility. After Successful login, you will be able to see e-Voting option. Once you click on e-Voting option, you will be redirected to NSDL/CDSL Depository site after successful authentication, wherein you can see e-Voting feature. Click on company name or e-Voting service provider name and you will be redirected to e-Voting service provider website for casting your vote during the remote e-Voting period. |
VALPLAST
Important note: Members who are unable to retrieve User ID/ Password are advised to use Forget User ID and Forget Password option available at abovementioned website.
Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login through Depository i.e. CDSL and NSDL
| Login type | Helpdesk details |
|---|---|
| Individual Shareholders holding securities in Demat mode with CDSL | Members facing any technical issue in login can contact CDSL helpdesk by sending a request at [email protected] or contact at toll free No. 1800 22 55 33. |
| Individual Shareholders holding securities in Demat mode with NSDL | Members facing any technical issue in login can contact NSDL helpdesk by sending a request at [email protected] or call at 022-48867000. |
-
Login method for e-Voting for shareholder other than individual shareholders holding shares in Demat mode & physical mode is given below:
-
You are requested to launch the URL on internet browser: https://ivote.bigshareonline.com
- Click on “LOGIN” button under the ‘INVESTOR LOGIN’ section to Login on E-Voting Platform.
- Please enter your ‘USER ID’ (User id description is given below) and ‘PASSWORD’ which is shared separately on your register email id.
- Shareholders holding shares in CDSL demat account should enter 16 Digit Beneficiary ID as user id.
- Shareholders holding shares in NSDL demat account should enter 8 Character DP ID followed by 8 Digit Client ID as user id.
- Shareholders holding shares in physical form should enter Event No + Folio Number registered with the Company as user id.
Note: If you have not received any user id or password please email from your registered email id or contact i-vote helpdesk team. (Email id and contact number are mentioned in helpdesk section).
- Click on I AM NOT A ROBOT (CAPTCHA) option and login.
NOTE: If Shareholders are holding shares in demat form and have registered on to e-Voting system of https://ivote.bigshareonline.com and/or voted on an earlier event of any company then they can use their existing user id and password to login.
- If you have forgotten the password: Click on ‘LOGIN’ under ‘INVESTOR LOGIN’ tab and then Click on ‘Forgot your password’?
- Enter “User ID” and “Registered email ID” Click on I AM NOT A ROBOT (CAPTCHA) option and click on ‘Reset’. (In case a shareholder is having valid email address, Password will be sent to his / her registered e-mail address).
Voting method for shareholders on i-Vote E-voting portal:
- After successful login, Bigshare E-voting system page will appear.
- Click on “VIEW EVENT DETAILS (CURRENT)” under ‘EVENTS’ option on investor portal.
- Select event for which you are desire to vote under the dropdown option.
- Click on “VOTE NOW” option which is appearing on the right hand side top corner of the page.
VALPLAST
- Cast your vote by selecting an appropriate option “IN FAVOUR”, “NOT IN FAVOUR” or “ABSTAIN” and click on “SUBMIT VOTE”. A confirmation box will be displayed. Click “OK” to confirm, else “CANCEL” to modify. Once you confirm, you will not be allowed to modify your vote.
- Once you confirm the vote you will receive confirmation message on display screen and also you will receive an email on your registered email id. During the voting period, members can login any number of times till they have voted on the resolution(s). Once vote on a resolution is casted, it cannot be changed subsequently.
-
Shareholder can “CHANGE PASSWORD” or “VIEW/UPDATE PROFILE” under “PROFILE” option on investor portal.
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Custodian registration process for i-Vote E-Voting Website:
-
You are requested to launch the URL on internet browser: https://ivote.bigshareonline.com
- Click on “REGISTER” under “CUSTODIAN LOGIN”, to register yourself on Bigshare i-Vote e-Voting Platform.
- Enter all required details and submit.
- After Successful registration, message will be displayed with “User id and password will be sent via email on your registered email id”.
NOTE: If Custodian have registered on to e-Voting system of https://ivote.bigshareonline.com and/or voted on an earlier event of any company then they can use their existing user id and password to login.
- If you have forgotten the password: Click on ‘LOGIN’ under ‘CUSTODIAN LOGIN’ tab and further Click on ‘Forgot your password’?
- Enter “User ID” and “Registered email ID” Click on I AM NOT A ROBOT (CAPTCHA) option and click on ‘RESET’.
(In case a custodian is having valid email address, Password will be sent to his / her registered e-mail address).
Voting method for Custodian on i-Vote E-voting portal:
- After successful login, Bigshare E-voting system page will appear.
Investor Mapping:
- First you need to map the investor with your user ID under “DOCUMENTS” option on custodian portal.
- Click on “DOCUMENT TYPE” dropdown option and select document type power of attorney (POA).
- Click on upload document “CHOOSE FILE” and upload power of attorney (POA) or board resolution for respective investor and click on “UPLOAD”.
Note: The power of attorney (POA) or board resolution has to be named as the “InvestorID.pdf” (Mention Demat account number as Investor ID.)
- Your investor is now mapped and you can check the file status on display.
Investor vote File Upload:
- To cast your vote select “VOTE FILE UPLOAD” option from left hand side menu on custodian portal.
- Select the Event under dropdown option.
- Download sample voting file and enter relevant details as required and upload the same file under upload document option by clicking on “UPLOAD”. Confirmation message will be displayed on the screen and also you can check the file status on display (Once vote on a resolution is casted, it cannot be changed subsequently).
- Custodian can “CHANGE PASSWORD” or “VIEW/UPDATE PROFILE” under “PROFILE” option on custodian portal.
VALPLAST
Helpdesk for queries regarding e-voting:
| Login type | Helpdesk details |
|---|---|
| Shareholder's other than individual shareholders holding shares in Demat mode & Physical mode. | In case shareholders/ investor have any queries regarding E-voting, you may refer the Frequently Asked Questions ('FAQs') and i-Vote e-Voting module available at https://ivote.bigshareonline.com, under download section or you can email us to [email protected] or call us at: 022-62638338 |
By Order of the Board
Sundar Singh
Company Secretary & Compliance Officer
Membership No. A68680
Noida
29 May, 2026
VALPLAST
EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013 (the Act)
ITEM NO.1
The Company had raised funds through its Initial Public Offer (IPO) in accordance with the objects stated in the Red Herring Prospectus dated 22nd September 2025. The proceeds from the IPO were proposed to be utilized for the specific purposes as set out therein.
Subsequently, the Board of Directors of the Company, at its meeting held on 20th May, 2026, after careful evaluation of the prevailing business environment, market conditions, and strategic priorities of the Company, approved the revision in the utilization of the unutilized proceeds of the issue originally earmarked for capital expenditure (CAPEX) of INR 4,95,00,000/- (Indian Rupees Four Crore Ninety Five Lakhs Only), and approved that the same be reallocated towards the Working Capital requirements and General Corporate Purposes (GCP) of the Company.
The proposed changes are necessitated due to evolving business requirements and to ensure optimal deployment of funds in a manner that enhances shareholder value and supports the long-term growth of the Company. The revised utilization will enable the Company to better align its financial resources with emerging opportunities and operational priorities.
In terms of the provisions of Section 13 and other applicable provisions, if any, of the Companies Act, 2013, read with the relevant rules framed thereunder and applicable regulations, including those prescribed by the Securities and Exchange Board of India (SEBI), any variation in the terms of the objects of the issue or the utilization of IPO proceeds requires the approval of the shareholders by way of a special resolution through postal ballot.
Accordingly, the approval of the Members is being sought for the proposed variation in the utilization of IPO proceeds and modification of the objects of the issue, as detailed in the resolution set out in the Postal Ballot Notice.
The Board believes that the proposed variation is in the best interest of the Company and its stakeholders.
None of the Directors, Key Managerial Personnel of the Company, or their relatives are, in any way, concerned or interested, financially or otherwise, in the proposed resolution, except to the extent of their shareholding, if any, in the Company.
The Board of Directors recommends the resolution for approval of the Members as a Special Resolution.
By Order of the Board
Sundar Singh
Company Secretary & Compliance Officer
Membership No. A68680
Noida
29 May, 2026