Ricky Kirpalani and PACs boost stake in Polyplex Corporation

On October 4, 2025, Ricky Kirpalani and a group of persons acting in concert (PACs), including Haresh Keswani and Rushil Kirpalani, disclosed a substantial acquisition of shares in Polyplex Corporation Ltd. This transaction falls under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The acquisition took place via the open market between September 15, 2021, and October 3, 2025.

Before the acquisition, Ricky Kirpalani and PACs held 805,918 shares, representing 2.57% of Polyplex Corporation's total share/voting capital. During the acquisition period, they acquired an additional 775,263 shares, accounting for 2.47% of the total.

Following this acquisition, their total holding has increased to 1,581,181 shares, now representing 5.04% of the company's total share/voting capital.