Asian Petroproducts and Exports Limited

EGM Agenda Items

Item 1: Conversion of Unsecured Loans to Equity Shares

Resolution Type: Special Resolution

Purpose: To approve issuance of up to 96,00,000 equity shares at par value (₹10 each) to promoters and promoter group entities in conversion of existing unsecured loans aggregating ₹9.60 crore.

Proposed Allottees and Allocation:

  • J K Chaturvedi (HUF): 60,000 shares (₹6,00,000)
  • Jaykishor Chaturvedi: 19,40,000 shares (₹1,94,00,000)
  • Siddharth Chaturvedi: 17,00,000 shares (₹1,70,00,000)
  • Ankur Chaturvedi: 15,00,000 shares (₹1,50,00,000)
  • Brijlaxmi Leasing And Finance Limited: 10,00,000 shares (₹1,00,00,000)
  • World Tradimpex Limited: 15,00,000 shares (₹1,50,00,000)
  • JKE Polymers Private Limited: 19,00,000 shares (₹1,90,00,000)

Key Terms:

  • Issue price: ₹10 per share (at par)
  • Relevant date for pricing: October 7, 2026
  • Shares subject to lock-in as per SEBI ICDR Regulations
  • Allotment to be completed within 15 days of shareholder approval
  • Shares will rank pari-passu with existing equity shares

Current Loan Outstanding (as of October 15, 2026):

  • J K Chaturvedi (HUF): ₹6,00,000
  • Jaykishor Chaturvedi: ₹4,88,00,000 (proposed conversion of ₹1,94,00,000)
  • Siddharth Chaturvedi: ₹1,75,00,000 (proposed conversion of ₹1,70,00,000)
  • Ankur Chaturvedi: ₹1,50,00,000
  • Brijlaxmi Leasing And Finance Limited: ₹2,83,00,000 (proposed conversion of ₹1,00,00,000)
  • World Tradimpex Limited: ₹1,99,00,000 (proposed conversion of ₹1,50,00,000)
  • JKE Polymers Private Limited: ₹1,99,00,000 (proposed conversion of ₹1,90,00,000)

Item 2: Issuance of Convertible Warrants

Resolution Type: Special Resolution

Purpose: To approve issuance of up to 1,00,00,000 warrants convertible into equity shares to promoters and promoter group for cash consideration aggregating ₹10.00 crore.

Proposed Allottees and Allocation:

  • J K Chaturvedi (HUF): 10,00,000 warrants (₹1,00,00,000)
  • Jaykishor Chaturvedi: 30,00,000 warrants (₹3,00,00,000)
  • Siddharth Chaturvedi: 10,00,000 warrants (₹1,00,00,000)
  • Ankur Chaturvedi: 10,00,000 warrants (₹1,00,00,000)
  • Brijlaxmi Leasing And Finance Limited: 20,00,000 warrants (₹2,00,00,000)
  • World Tradimpex Limited: 10,00,000 warrants (₹1,00,00,000)
  • JKE Polymers Private Limited: 10,00,000 warrants (₹1,00,00,000)

Key Terms:

  • Warrant price: ₹10 per warrant
  • 25% payment (₹2.50 crore) due on allotment, balance 75% (₹7.50 crore) on conversion
  • Conversion period: 18 months from allotment date
  • Unconverted warrants lapse after 18 months with forfeiture of amount paid
  • Relevant date for pricing: October 7, 2026

Utilization of Proceeds:

  • ₹12.50 crore for development of industrial estate (sheds, infrastructure, consulting)
  • ₹1.50 crore for general corporate purposes
  • Implementation timeline: 18-24 months

Item 3: Preferential Issue to Non-Promoter Public

Resolution Type: Special Resolution

Purpose: To approve issuance of up to 40,00,000 equity shares to non-promoter public category investors for cash consideration aggregating ₹4.00 crore.

Proposed Allottees and Allocation:

  • Mahavir Prasad Mundra: 2,50,000 shares (₹25,00,000)
  • Sunil Kumar Mundra HUF: 2,50,000 shares (₹25,00,000)
  • Inder Singh Parihar: 2,50,000 shares (₹25,00,000)
  • Chandra Prakash Bhutra: 2,50,000 shares (₹25,00,000)
  • Nanda Dinesh Bangar: 5,00,000 shares (₹50,00,000)
  • Manisha Shah: 5,00,000 shares (₹50,00,000)
  • K V Narayan: 5,00,000 shares (₹50,00,000)
  • Alpesh Kanugo: 2,50,000 shares (₹25,00,000)
  • Meera Kanugo: 2,50,000 shares (₹25,00,000)
  • Sagar Brahmbhatt: 5,00,000 shares (₹50,00,000)
  • Manorama Talati: 5,00,000 shares (₹50,00,000)

Key Terms:

  • Issue price: ₹10 per share (at par)
  • Relevant date for pricing: October 7, 2026
  • Shares subject to 6-month lock-in from trading approval date
  • Allotment to be completed within 15 days of shareholder approval

Utilization of Proceeds:

  • ₹12.50 crore for development of industrial estate
  • ₹1.50 crore for general corporate purposes
  • Implementation timeline: 18-24 months

Pricing Methodology

All three issuances are priced at ₹10 per share based on independent valuation by KMBD Valuation Research LLP (IBBI Reg. No.: IBBI/RV-E/05/2025/229). The company's shares are infrequently traded on BSE Limited, requiring valuation under Regulation 165 of SEBI ICDR Regulations, 2018.

Shareholding Pattern Impact

Pre-issue capital: 2,45,57,916 equity shares

Post-issue capital (assuming full conversion):

  • After equity issuance: 3,81,57,916 shares
  • After full warrant conversion: 4,81,57,916 shares

Promoter holding change:

  • Pre-issue: 56.86% (1,39,64,573 shares)
  • Post-equity issuance: 61.76% (2,35,64,573 shares)
  • Post-full conversion: 69.70% (3,35,64,573 shares)

Voting Arrangements

  • E-voting facility provided through NSDL
  • Scrutinizer: M/s. Devesh Pathak & Associates, Practicing Company Secretary
  • Remote e-voting period specified with detailed instructions for shareholders
  • Physical attendance dispensed with due to VC/OAVM meeting

Financial Impact

The preferential issuances will:

  • Reduce debt by ₹9.60 crore through loan conversion
  • Infuse fresh capital of ₹14.00 crore (₹10.00 crore from warrants + ₹4.00 crore from public issue)
  • Increase paid-up capital from ₹24.56 crore to potentially ₹48.16 crore
  • Improve debt-equity ratio and net worth position