EGM on October 22, 2026 to expand object clause, widen use of ₹64.80 crore warrant proceeds and approve related party limits

EGM called for Thursday, October 22, 2026 at the Udaipur registered office.

Tue 29 Sep 2026

EGM Date

Thursday, October 22, 2026

EGM Location

Udaipur registered office

Warrant Issue Size

72,00,000 warrants worth up to ₹ 64,80,00,000/-

Related Party Transaction - Aeroflex Enterprises

Up to ₹ 100 crores

Related Party Transaction - Aeroflex Finance

Up to ₹ 30 crores

What is happening

Aeroflex Neu Limited (formerly Sah Polymers Limited) has convened an Extraordinary General Meeting on Thursday, October 22, 2026 at 11.00 a.m. at its registered office in Madri, Udaipur. Four resolutions are proposed; the results will be known only after shareholders vote.

Item 1 — Object clause alteration (Special Resolution)

New sub-clauses 15 to 21 are proposed to be inserted after existing sub-clause 14 of Clause III(A) of the Memorandum. These widen the permitted businesses to include:

• High performance computing, data centres, semiconductor fabrication, robotics, IoT, blockchain and Web3, edge computing and satellite communication, plus related power, renewable energy and cooling infrastructure.
• Research labs, incubation and skill centres, and investments in or collaborations with AI, IT, semiconductor, biotech and nanotech companies, in India or abroad.
• Power equipment, electrical and electronic machinery, transformers, switchgears, renewable energy equipment, batteries, smart grids, and turnkey/EPC contracts.
• Foundries, castings, forgings and engineering goods.
• Castor wheels, valves, sanitary fittings and precision engineering products.
• Metals, wires and cables of many types, and power infrastructure equipment.
• Trading, servicing and dealing in electrical and electronic goods.

Item 2 — Change in use of warrant proceeds (Special Resolution) The company seeks consent to vary the objects of the preferential issue of 72,00,000 warrants convertible into equity shares for an aggregate amount of up to ₹ 64,80,00,000/-, earlier approved by members at the AGM held on August 25, 2026.

Existing object: constructing, developing and investing in Plug and Play Office Complexes, AI Parks, IT Parks, Data Centers, residential and industrial complexes, hotels, resorts and hospitality.

Proposed additions to that object

• Entering the AI Infrastructure sector and building an integrated platform for high-tech and critical engineering products, including precision industrial products such as butterfly valves, ball valves, check valves, sight glasses, wires and cables.
• Strategic investments in or acquisitions of companies in industrial, engineering, manufacturing, technology, infrastructure and allied sectors.
• Repaying, in whole or in part, any loan or financial assistance availed from the Holding Company or Group Companies in connection with these activities.

All other terms of the preferential issue remain unchanged.

Items 3 and 4 — Material related party transactions (Ordinary Resolutions)

• With Aeroflex Enterprises Limited, the Holding Company: aggregate amount not exceeding ₹ 100 crores, for availing or accepting loans, borrowings, advances and other financial assistance and their repayment, including interest and finance costs, until the conclusion of the next AGM in 2027, stated to be in the ordinary course of business and on an arm's length basis.
• With Aeroflex Finance Private Limited, a Fellow Subsidiary: aggregate amount not exceeding ₹ 30 crores, on similar terms and for the same period.

Voting mechanics

• Cut-off date for eligibility: Thursday, October 15, 2026.
• Remote e-voting opens 9.00 a.m. on Monday, October 19, 2026 and closes 5.00 p.m. on Wednesday, October 21, 2026, through CDSL.
• E-voting is also available at the meeting for those who have not voted remotely.
• Scrutinizer: Mr. Ashok Modi, Proprietor of A Modi & Co., Chartered Accountants.
• A proxy may represent up to 50 members holding in aggregate not more than 10 percent of total share capital; proxy forms must reach the company at least 48 hours before the meeting.

How investors may read it

The resolutions together point to a diversification of stated business activity towards AI infrastructure, data centres and engineering products, and to a re-direction of part of the warrant money, including towards acquisitions and repayment of group loans. The related party approvals set outer borrowing limits from the parent and a group finance company. Special Resolutions require a higher threshold of member support than Ordinary Resolutions.

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