PEARL Polymers Ltd has informed BSE that members of the Company, by way of Postal Ballot, have passed the resolution relating to authorise the Board to create, offer, issue and allot 585277 Equity Shares of the face value of Rs 10/- each @ Rs 20.83p (price which has beer arrived at as per SEBI pricing formula) and on such terms and conditions specified in SEBI (Disclosure and Investor Protection) Guidelines, 2000 (as amended from time to time (”SEBI Guidelines”) to IDBI Bank (Industrial Development Bank of India Ltd), whether or not they are members of the Company, on Preferential issue on account of conversion of differential interest rate relief on loan given by them to the Company, with requisite majority.