Axel Polymers has issued a correction to its Extra-ordinary General Meeting notice, clarifying details for a proposed preferential issue.

The company plans to raise ₹12.73 crore through this issue.

Up to 60% of the funds are earmarked for working capital, including raw materials, payables, operations, and debt repayment.

Additionally, up to 20% will be used for general corporate purposes, and the remaining up to 20% is allocated for capital investments in minor plant upgrades and infrastructure.

This update provides clarity on how the company intends to utilize the capital to strengthen its operations and financial position.