Aeroflex Neu Ltd. Appoints Independent Directors, Approves Major Stake Disposal in Subsidiary
Aeroflex Neu Limited announced several significant corporate developments following a meeting of its Board of Directors on July 15, 2026. The company approved the appointment of two new independent directors and finalized the sale of its entire equity holding in material subsidiary Fibcorp Polyweave Private Limited (FPPL). Additionally, the Board sanctioned modifications to the objects related to a future preferential issue of warrants.New Independent Directors Appointed
The Board of Directors approved the appointments of Mr. Arpit Kalani and Mr. Tapan Tanmay Kothari as Additional Independent Directors. Both appointments are effective from July 15, 2026, for a term of five years, subject to ratification by shareholders at the ensuing 34th Annual General Meeting (AGM).Details regarding the two new directors have been summarized below:
| Director Name | Expertise/Profile Summary | Appointment Status |
|---|---|---|
| Mr. Arpit Kalani | An Associate Company Secretary with expertise in secretarial practices and corporate compliance, possessing hands-on experience in managing statutory and regulatory adherence. | Additional Independent Director (Term: 5 years) |
| Mr. Tapan Tanmay Kothari | Holds an MBA and M.Com degree, offering diversified professional experience across banking, administration, sales, and event management. | Additional Independent Director (Term: 5 years) |
Both appointments were made based on the recommendation of the Nomination and Remuneration Committee. Mr. Arpit Kalani is not related to any director of the Company. Similarly, Mr. Tapan Tanmay Kothari is not related to any director of the Company.
Sale of Equity Stake in Fibcorp Polyweave Private Limited (FPPL)
The Board also approved the sale and disposal of Aeroflex Neu Limited's entire holding in its material subsidiary, Fibcorp Polyweave Private Limited (FPPL). The company held 33,884 equity shares of FPPL, which constituted 51.01% of the paid-up equity share capital of the subsidiary.The sale involves Aeroflex Neu Limited (formerly Sah Polymers Limited), FPPL, Mr. Murtaza Ali Moti, and Mrs. Fatima Moti. The total sale consideration for the company's stake was set at ₹192.12 Lakhs (Rupees One Hundred and Ninety-Two Lakhs and Twelve Thousand Only).
The transaction details are as follows:
| Particular | Details |
|---|---|
| Subsidiary Name | Fibcorp Polyweave Private Limited (FPPL) |
| Shares Held by ANL | 33,884 equity shares |
| Stake Percentage | 51.01% |
| Total Consideration | ₹192.12 Lakhs |
| Buyers | Mr. Murtaza Ali Moti (27,093 equity shares) and Mrs. Fatima Moti (6,791 equity shares) |
The Board approved the draft Share Purchase Agreement (SPA). Upon completion of this transaction, FPPL will cease to be a subsidiary of Aeroflex Neu Limited. This sale is noted to be outside a Scheme of Arrangement.
Modification in Objects for Warrants Issue
In addition to these operational and governance updates, the Board of Directors approved an alteration to the objects regarding a preferential issue of warrants, subject to members' approval. The modification substitutes existing clauses with new objectives designed to cover strategic future ventures.The altered object includes: 'To construct, build, operate, establish, develop, acquire, purchase of land for, and invest in Plug and Play Office Complexes, AI Parks, IT Parks, Data Centers, residential and industrial complexes, including hotels, resorts and other hospitality-related businesses, whether directly or through subsidiary(ies) or in joint collaborations.'
AERONEU Stock Price Movement
Aeroflex Neu Limited saw its stock rally today, closing at ₹87.52 after gaining ₹1.16 or 1.33% in the market session. The equity traded within an intraday range of ₹87 to ₹90, with a total volume recorded of 42,138 shares for the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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