AVI Polymers Promoters Plan to Acquire 5% Stake from Open Market
AVI Polymers promoters to buy up to 5% of equity from open market
News 18
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AVI Polymers, a specialty chemicals producer based in Mumbai, announced that its promoters intend to acquire up to 5% of the company's equity through open market transactions. This move reflects their confidence in the company's long-term growth, especially following a significant revenue increase and a debt-free status.
- 01Promoters of AVI Polymers plan to buy up to 5% equity in open market transactions.
- 02The acquisition reflects confidence in the company's long-term growth potential.
- 03AVI Polymers reported a revenue surge to ₹312 crore (approximately $37.5 million USD) in FY26.
- 04The company has achieved a debt-free balance sheet and strengthened net worth.
- 05AVI Polymers is transitioning into a technology-driven enterprise with AI-led subsidiaries.
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AVI Polymers, a specialty chemicals and polymer producer headquartered in Mumbai, has announced that its promoters plan to acquire up to 5% of the company's equity through open market transactions. This decision was communicated to the board of directors and will be executed in phases over the coming months. Chintan Patel, Managing Director of AVI Polymers, stated that this increase in promoter shareholding demonstrates their strong belief in the company's long-term growth potential and the strategic transformation currently underway. The company reported a significant revenue increase to ₹312 crore (approximately $37.5 million USD) in FY26, alongside achieving a debt-free balance sheet and a strengthened net worth position. This move coincides with AVI Polymers' transition into a technology-driven enterprise, bolstered by the successful operational rollout of its AI-led subsidiaries, including KrishiBuddy and AVI Health AI.
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The promoters' acquisition could boost investor confidence and support further growth initiatives, potentially leading to job creation and innovation within the company.
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