Board approves proposal to issue 32,00,000 equity warrants on preferential basis

Board meeting outcome (10th October 2026).

Sat 10 Oct 2026

Warrants to be issued

32,00,000 equity warrants of face value ₹10 each

Aggregate issue size

up to ₹3,20,00,000

Investor count / conversion window

14 investors (2 promoter-category, 12 non-promoter/public); conversion within 18 months from allotment

Deep Polymers Ltd board meeting — 10th October 2026

The board met on Saturday, 10th October, 2026 and approved a proposal to raise funds by way of issuance of 32,00,000 equity warrants of face value ₹10 each, aggregating up to ₹3,20,00,000, on a preferential basis, to the promoter and non-promoter/public category of the company.

Who the warrants are proposed for

• Total number of investors: Fourteen (14)
• Promoter category: Deepal Rameshbhai Patel — 6,00,000 warrants; Aryan Rameshbhai Patel — 6,00,000 warrants
• Non-promoter category: Kartik Maheshbhai Brahmbhatt — 2,00,000; Vimalbhai Prahaladbhai Patel — 2,00,000; Ravi Rajeshbhai Parmar — 1,50,000; Kaitav Kulin Shah — 2,00,000; Shah Kulin Navalkishor — 1,50,000; Mukesh Lakhmanbhai Chaudhary — 2,50,000; Bhagwan Chaudhary — 2,50,000; Debsankar Das — 1,50,000; Amardeep Baitha — 1,50,000; Maheshkumar Bamboria — 1,50,000; Avnish Manojkumar Patel — 50,000; Prem Vimalbhai Patel — 1,00,000

How a warrant works here

• A warrant is issued for cash and carries a right to apply for and get allotted one equity share of face value ₹10 for each warrant
• That right can be exercised within a period of 18 (Eighteen) months from the date of allotment of the warrants, in one or more tranches
• The option for conversion is available only upon payment of the full price of the equity warrants

Price and approvals

• The issue price will be determined in accordance with the pricing guidelines under Chapter V of the SEBI ICDR Regulations, 2018
• The proposal is subject to the approval of regulatory/statutory authorities, as applicable, and the approval of the shareholders of the company
• The company proposes to seek members' approval in due course by way of an Extra Ordinary General Meeting

What investors can take away

• What the board has approved is a proposal for a preferential issuance of warrants; the issue price, and hence the money that may come in, is to be determined later as per the pricing guidelines
• Warrants are the securities proposed to be issued at this stage; equity shares would be allotted only when a holder exercises the warrant right and pays the full price within the stated window
• The issue is proposed to a mix of promoter and non-promoter/public category investors, and the allotment of equity shares would take place only on conversion of these warrants

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