Mumbai, Apr 30 (PTI) Speciality chemicals and polymer producer AVI Polymers on Thursday said its promoters intend to acquire up to 5 per cent of the company’s equity through open market transactions.
The company has received an official intimation from the Promoter and Promoter Group for buying up to 5 per cent stake and the same has been conveyed to the board of directors, AVI Polymers said in a statement. The proposed open market purchases will be executed in a phased manner over the coming months, it added.
Chintan Patel, Managing Director, AVI Polymers Ltd, said, “The proposed increase in promoter shareholding reflects our deep conviction in AVI Polymers’ long-term growth potential and the strategic transformation we are executing.” The company reported a significant surge in revenue to Rs 312 crore and a multi-fold growth in net profit in FY26, alongside achieving a debt-free balance sheet and a strengthened net worth position, the statement said.
The promoters’ move comes at a time when AVI Polymers is actively transitioning into a technology-driven, high-growth enterprise, supported by the successful operational rollout of its wholly owned AI-led subsidiaries, including KrishiBuddy and AVI Health AI, it added. PTI IAS MR
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