Deep Polymers Ltd has announced plans to raise capital through the issuance of 32 lakh equity warrants. The proposal includes 14 investors, split between promoters and non-promoters, with a warrant tenure of 18 months. The final issue price will comply with SEBI regulations, pending approval from shareholders at an upcoming Extraordinary General Meeting.
Deep Polymers Board Approves Preferential Issue of 32 Lakh Warrants
Deep Polymers Ltd is set to issue 32,00,000 warrants at a face value of ₹10 each.
The aggregate value of the issuance is estimated up to ₹3.20 crore.
Reader Takeaway: Company moves to strengthen capital base via preferential warrants to 14 investors pending shareholder approval.
What just happened
In a board meeting held on October 10, 2026, the directors of Deep Polymers Ltd approved a preferential issue of 32 lakh equity warrants. These instruments grant holders the right to convert each warrant into one equity share of the company within a tenure of 18 months from the date of allotment.
Why this matters
This fundraising initiative is designed to bolster the company's financial position. By involving both promoter and non-promoter groups, the company is consolidating its investor base while securing long-term capital. The pricing of these warrants will be determined in strict adherence to Chapter V of the SEBI (ICDR) Regulations, 2018, ensuring transparency for current shareholders.
Investor breakdown
The issue is distributed among 14 investors:
- Promoter Group: Deepal Rameshbhai Patel and Aryan Rameshbhai Patel (6,00,000 warrants each).
- Non-Promoter Group: 12 individual investors, including Kaitav Kulin Shah, Vimalbhai Prahaladbhai Patel, and others, will share the remaining allotment.
Next steps
The company must now secure formal approval from its shareholders. Management will convene an Extraordinary General Meeting (EGM) to finalize the terms. Investors are advised to track the company’s upcoming EGM notices for the finalized issue price and implementation timeline.