Tirth Plastic Ltd Board Approves Preferential Issue of Up To 45 Lakh Shares to Non-Promoters
Tirth Plastic Ltd announced that its Board of Directors approved the preferential issue of equity shares, intended for persons in the non-promoter category. The decision, taken during a board meeting on July 4, 2026, outlines the terms and procedures for the forthcoming allotment.During the meeting, the company sanctioned the issuance of up to 45,00,000 (Forty-Five Lakhs Only) equity shares. These shares are intended for persons belonging to the Non-Promoter Category and were approved with a face value of Rs. 10/- each. The preferential issue is subject to necessary approvals, including shareholder approval via Postal Ballot.
In addition to approving the allotment, the board directed the appointment of M/s. A. Shah & Associates as the Scrutinizer. This firm will be responsible for conducting the Postal Ballot in a true and fair manner. Following these decisions, the company is preparing to issue notice of the Postal Ballot and E-voting related to the proposed transactions.
The details regarding the preferential allotment include the following financial specifications:
| Particular | Detail |
|---|---|
| Maximum Issue Size | 45,00,000 Equity Shares or less |
| Face Value per Share | Rs. 10/- each |
| Issue Price | Rs. 28/- (including premium of Rs. 18/-) |
| Nature of Consideration | Cash |
| Allottee Category | Non-Promoter |
The company listed the details concerning the potential allotees for the equity shares, which are categorized as non-promoters or promoter categories. The list includes various individuals and companies intended to be involved in the allotment process.
A selection of the entities identified were:
| S. No | Name of Allottee | Type |
|---|---|---|
| 1 | JATIN BANSIL HAR SONAWALA | Non-promoter |
| 2 | PRAGNESHKUMAR GIRISHCHANDRA DAVE | Non-promoter |
| 3 | RUTWIK NAILESHBHAI MORAKHIA | Non-promoter |
| 4 | THAKOR ROHIT POPATJI | Non-promoter |
| 5 | VILASBEN NALISHABHAI MORAKHIA | Non-promoter |
| 6 | AAYUSH BHARATBHAI VARAIYA | Non-promoter |
Stock Price Movement
Tirth Plastic Ltd settled at ₹29.74 on Friday, edging higher after a gain of 4.98%. The shares remained completely locked throughout the session, trading identically across both the high and low of ₹29.74.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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