BISIL Plast Limited, a leading manufacturer in the plastic and packaging industry, has announced a Board Meeting on March 4, 2025, to discuss key corporate decisions, including a ₹49 crore rights issue and a board-level appointment.

Key Agenda Items of the Board Meeting

The company, through an official notice under Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has outlined two major decisions:

1. Approval of ₹49 Crore Rights Issue

The Board will consider and approve the issuance of equity shares through a rights issue with a face value of ₹1 per share. The rights issue will be conducted in accordance with:

• SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
• SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Companies Act, 2013

The Board will also finalize:

• Rights Issue Price
• Payment Mechanism
• Issue Size & Entitlement Ratio
• Record Date for Eligibility
• Timeline for Subscription

This capital infusion is expected to support business expansion, enhance financial stability, and boost shareholder value.

2. Appointment of Independent Woman Director

BISIL Plast also plans to appoint Ms. Nidhiben Ravindrakumar Joshi (DIN 10132922) as an Additional Non-Executive Independent Woman Director. This move aligns with regulatory requirements for board diversity and corporate governance. The appointment is subject to shareholders' approval.

Implications for Investors and Stakeholders

The rights issue presents an opportunity for existing shareholders to participate in the company’s growth at a pre-determined price, ensuring a potential value proposition. The appointment of an independent director is expected to strengthen corporate governance and enhance investor confidence.

Next Steps

The official resolutions and announcements will be made public post the board meeting on March 4, 2025. Investors and stakeholders can track updates through the company’s website and stock exchange notifications.

Conclusion
The upcoming Board Meeting is a crucial step for BISIL Plast Limited as it plans to raise ₹49 crore via a rights issue and reinforce its board with an independent director appointment. Investors are advised to monitor the developments and assess the financial implications of the proposed rights issue.

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