Valplast Technologies Limited has issued a notice for a postal ballot to seek shareholder approval for changing the object of utilization of funds raised through its Initial Public Offer (IPO).

Key Resolution

Special Resolution for "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."

Financial Details

The company proposes to reallocate unutilized IPO proceeds originally earmarked for capital expenditure (CAPEX) amounting to ₹4,95,00,000 (Indian Rupees Four Crore Ninety Five Lakhs Only) towards Working Capital requirements and General Corporate Purposes (GCP).

Dates and Timeline

  • Cut-off date for determining eligibility: Friday, May 22, 2026
  • E-voting commencement: Saturday, May 30, 2026 at 09:00 AM IST
  • E-voting conclusion: Sunday, June 28, 2026 at 05:00 PM IST
  • Results declaration: On or before Tuesday, June 30, 2026

Parties Involved

  • Scrutinizer: Mr. Rajat Mishra (ACS: 47538 and COP No.: 25385), Practicing Company Secretary
  • Registrar and Transfer Agent: Bigshare Services Private Limited
  • Depositories: National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL)

Voting Process

The company has appointed Bigshare Services Private Limited as the e-voting service provider. Shareholders can vote through:

1. CDSL demat account holders: https://web.cdslindia.com/myeasitoken/home/login

2. NSDL demat account holders: https://eservices.nsdl.com

3. Physical shareholders: https://ivote.bigshareonline.com

Rationale

The board approved this change on May 20, 2026, after evaluating prevailing business environment, market conditions, and strategic priorities. The revision is intended to ensure optimal deployment of funds to enhance shareholder value and support long-term growth.

Document Availability

The notice is available on the company's website (https://valplastech.com), BSE website (www.bseindia.com), and Bigshare website (www.bigshareonline.com).