Pet Plastics AGM 2026: ₹40 Cr Warrants, Capital Hike

What happened at Pet Plastics’ 41st AGM

Shareholders of Pet Plastics, now known as Bharatam Ventures Limited, approved a set of key resolutions at the company’s 41st Annual General Meeting (AGM) held on September 16, 2026. The approvals included a preferential issue of convertible warrants aggregating up to ₹40 crore, an increase in authorised share capital, the appointment of three new directors, and a proposal to shift the registered office from Mumbai to Pune.

The AGM was held physically in Chembur, Mumbai. The meeting commenced at 12:00 pm and concluded at 12:45 pm. The venue referenced for the physical meeting was Office No 1301, 13th Floor, Signature Business Park, Commercial Premises CHSL, Postal Colony, Chembur, Mumbai, Maharashtra 400071.

Key resolutions shareholders approved

The company said several ordinary and special resolutions were passed. The headline items were linked to fundraising through warrants, a large expansion in authorised capital, governance changes through board appointments, and a change in the company’s registered office location.

The approvals matter because they collectively set the legal and procedural base for a potential equity-linked fund raise, along with corporate administrative changes that can affect future filings and stakeholder communication.

Preferential issue: up to 4 crore convertible warrants

Shareholders approved the issue of up to 4,00,00,000 convertible warrants at a price of ₹10 per warrant, aggregating up to ₹40 crore. The issue is to be done on a preferential basis to promoters and non-promoters, as disclosed.

A convertible warrant is an instrument that can be converted into equity shares based on specified terms. While the company disclosed the number of warrants and the issue price, it did not provide further details in the shared text on conversion timing, lock-in, or other conditions.

Because the issue is on a preferential basis, it is typically linked to shareholder approval and regulatory compliance requirements. The resolution passed at the AGM addresses the shareholder approval step referenced in the company’s AGM agenda.

Authorised share capital raised to ₹40.5 crore

Shareholders also approved an increase in authorised share capital from ₹0.5 crore to ₹40.5 crore. The company provided the underlying equity share count and face value details.

• Earlier authorised capital: ₹0.5 crore, comprising 5,00,000 equity shares of ₹10 each
• Revised authorised capital: ₹40.5 crore, comprising 4,05,00,000 equity shares of ₹10 each

This change expands the legal ceiling of shares the company can issue, which is relevant when a company plans instruments like warrants that may convert into equity, or any other future equity issuances.

Registered office shift from Mumbai to Pune

Another key approval was for shifting the registered office from Mumbai to Pune. The proposed address disclosed was Office No. 503, Marisoft-1, Survey No. 15, Marigold Premises, Pune 411014.

The company disclosed that the office transfer is subject to confirmation by the Regional Director. This indicates that the shift is not purely an internal administrative move and requires regulatory confirmation before becoming effective.

Appointment of three new directors

Shareholders approved the appointment of three new directors. The shared material did not include the names, designations, or whether they were independent, executive, or non-executive directors.

Even without names, the approval indicates a change in the board’s composition following the AGM. Such changes can have implications for committee structures and future governance disclosures, depending on the roles assigned.

AGM conduct: timing and voting options

The company disclosed the AGM timing as starting at 12:00 pm and concluding at 12:45 pm on September 16, 2026. It also communicated that members could vote electronically within a defined window.

Members attending the physical AGM who had not voted earlier were allowed to vote during the meeting. For e-voting or ballot form queries, the company directed members to Bigshare Services Pvt Ltd, the Registrar and Transfer Agent.

Book closure and key e-voting dates

Ahead of the AGM, Bharatam Ventures Limited disclosed the closure of its register of members and share transfer books. The books were to remain closed from Thursday, September 10, 2026 to Wednesday, September 16, 2026, both days inclusive.

The company also disclosed the cut-off date and the e-voting window for shareholder participation.

Summary table of the AGM’s key outcomes

The approvals passed at the AGM can be summarised as follows, based on the disclosures provided.

Market impact: what changes immediately and what remains conditional

From the information disclosed, the immediate outcome is shareholder authorisation for the warrant issue and corporate actions. The convertible warrant approval and the increase in authorised capital together establish capacity for the company to proceed with the proposed issuance of instruments aggregating up to ₹40 crore.

However, the registered office shift to Pune was disclosed as subject to Regional Director confirmation, which means it is not effective solely based on the shareholder vote. Similarly, while the warrant issue is approved by shareholders, the company’s next steps will depend on completing the process under applicable rules and the terms set out in the detailed issue documentation.

Why the resolutions matter for governance and capital structure

The resolutions collectively point to a period of corporate restructuring and capital planning. Increasing authorised capital from ₹0.5 crore to ₹40.5 crore is a material jump, and it aligns with the scale implied by issuing up to 4,00,00,000 warrants.

The move from Mumbai to Pune, if confirmed by the Regional Director, also implies a shift in the location of the registered office, which is the address used for statutory records and formal communication. The AGM also approved three new directors, indicating changes in board composition that may be reflected in subsequent statutory filings.

Conclusion

Pet Plastics (Bharatam Ventures Limited) used its September 16, 2026 AGM to secure shareholder approvals for a ₹40 crore preferential issue of convertible warrants, a rise in authorised capital to ₹40.5 crore, three director appointments, and a proposed registered office shift to Pune. The next key procedural milestone disclosed in the resolutions is the requirement for Regional Director confirmation for the registered office transfer, alongside follow-through actions tied to the approved warrant issuance.