Pankaj Polymers Ltd Approves Auditor Appointment, Multi-Crore Preferential Issues and Name Change Proposal
Pankaj Polymers Limited has approved several significant corporate actions, including the appointment of new statutory auditors, approval for multiple preferential issues across equity shares and warrants, a proposal to change its company name, and operational shifts related to its memorandum of association. These decisions were taken during a Board meeting held on July 24, 2026.Key approvals detailed by the company include:
- Auditor Appointment: The Board approved M/s Shilpi Sharma & Co., Chartered Accountants (Firm Registration No. 021442N), to fill a casual vacancy and serve as Statutory Auditors until the conclusion of the next Annual General Meeting, succeeding M/s Luharuka & Associates.
- Equity Issue: Approval was granted for an issue of up to 8,55,000 equity shares on a preferential basis to the Non-Promoter category at an issue price of ₹81 per share. This issuance is expected to generate aggregate proceeds of ₹6,92,55,000.
- Warrant Issue: The company also approved issuing up to 22,20,000 warrants convertible into equity shares for the Promoter and Non-Promoter categories at an issue price of ₹81 per warrant. The potential proceeds from this issuance are estimated at up to ₹17,98,20,000.
Corporate Restructuring and Future Plans
The Board meeting also approved several strategic corporate changes aimed at aligning the company with its future growth trajectory:Name Change Proposal: A proposal was considered in principle for changing the company name from 'Pankaj Polymers Limited' to options including "Rupia Tech Limited," "Rupia Fin Limited," or "Rupia Fintech Limited," subject to statutory and regulatory approvals.
Alteration of MOA: The Board approved altering the Object Clause of the Memorandum of Association (MOA). This modification is set to realign the company's scope to incorporate proposed technology and fintech focused business activities, such as digital payment solutions, payment aggregation, Bharat Bill Payment System (BBPS) services, e-commerce, software and IT services, and financial product distribution.
Registered Office Shift: The company approved the shifting of its Registered Office from Telangana to the National Capital Territory of Delhi, subject to subsequent shareholder approval.
Investor Meeting Details
The Board has set the following timelines and appointments related to future corporate events:| Event | Date/Details |
|---|---|
| EGM Convening | Saturday, August 22, 2026, at 03:00 PM via Video Conferencing (VC)/Other Audio-Visual Means (OAVM). |
| Cut-off Date for E-voting | Saturday, August 15, 2026. |
| Scrutinizer Appointment | M/s Akash & Co., Practicing Company Secretaries, has been appointed to conduct the e-voting process for the Extra Ordinary General Meeting (EGM). |
Details of Preferential Allotments and Offerings
The details surrounding the preferential issues are as follows:Equity Share Issuance (Non-Promoter)
The issue of up to 8,55,000 equity shares was directed towards various investors from the Non-Promoter category.
| Investor Name | Category | Shares Allotted | Post-Preferential Stake |
|---|---|---|---|
| Mayank Chawla | Non-Promoter | 1,25,000 | 1.45% |
| Zulia Zafar | Non-Promoter | 1,00,000 | 1.16% |
| Manav Sharma | Non-Promoter | 50,000 | 0.58% |
| Nitin Jain / HUF | Non-Promoter | 50,000 (each) | 0.58% |
| Shivani Jain | Non-Promoter | 50,000 | 0.58% |
| Manish Sansi | Non-Promoter | 1,00,000 | 1.16% |
| Ruchi Sansi | Non-Promoter | 1,10,000 | 1.28% |
| Ankit Himatsingka | Non-Promoter | 50,000 | 0.58% |
Warrant Issuance (Promoter and Non-Promoter)
The issuance of up to 22,20,000 warrants was allocated across the Promoter Group and Non-Promoter investors.
| Investor Name | Category | Warrants Allotted | Post-Preferential Stake |
|---|---|---|---|
| Samarth Jain | Promoter Group | 1,20,000 | 1.39% |
| Shweta Raghuvanshi | Promoter Group | 1,20,000 | 1.39% |
| Sonia Garg | Promoter Group | 1,20,000 | 1.39% |
| Manish Sansi | Non-Promoter | 1,00,000 | 1.16% |
The warrants are convertible into one fully paid-up equity share of the company with a face value of ₹10, and their tenor is set for 18 months from the date of allotment.
Stock Price Movement
Pankaj Polymers Ltd. settled on Friday at ₹90.72, climbing 5.00% as the shares closed out higher for the day. The stock saw active movement throughout the trading session, ranging between a low of ₹85.50 and an intraday high of ₹90.72.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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