Aequs Shareholders Approve Subsidiary Amalgamation Scheme

Meeting Details

Type of Meeting: Postal Ballot through remote e-voting
Record Date: June 26, 2026
Voting Start Date and Time: Thursday, July 02, 2026 from 09:00 A.M. (IST)
Voting End Date and Time: Friday, July 31, 2026 till 05:00 P.M. (IST)
Total Number of Shareholders on Record Date: 54,465

Proposed Resolution and Implications

The single special resolution sought approval for a Scheme of Amalgamation under Section 233 of the Companies Act, 2013 between Aequs Limited (Transferee Company) and three Transferor Companies: AeroStructures Manufacturing India Private Limited, Aequs Engineered Plastics Private Limited, and Aequs Force Consumer Products Private Limited. The resolution required a special majority with the requisite majority.

Voting Process and Methods

The postal ballot was conducted by providing remote e-voting facility to members in accordance with Section 110 of the Companies Act, 2013. The e-voting services were provided by KFin Technologies Limited. Physical copies of the Postal Ballot Notice were not sent to members in accordance with MCA Circulars.

Key Voting Outcomes

Overall Voting Results:

Total Number of Shares Eligible for Voting (as per Regulation 44): 670,665,635
Total Votes Polled: 596,763,644
Percentage of Votes Polled on Outstanding Shares: 88.9808%
Votes in Favor: 596,761,731 (99.9997% of votes polled)
Votes Against: 1,913 (0.0003% of votes polled)
Resolution Status: Passed

Category-wise Voting Breakdown:

Promoter and Promoter Group:

Shares Held: 396,282,820
Votes Polled: 396,282,820 (100.0000% participation)
Votes in Favor: 396,282,820 (100.0000%)
Votes Against: 0 (0.0000%)

Public Institutions:

Shares Held: 202,151,093
Votes Polled: 177,180,967 (87.6478% participation)
Votes in Favor: 177,180,967 (100.0000%)
Votes Against: 0 (0.0000%)

Public Non-Institutions:

Shares Held: 72,231,722
Votes Polled: 23,299,857 (32.2571% participation)
Votes in Favor: 23,297,944 (99.9918%)
Votes Against: 1,913 (0.0082%)

Section 233 Threshold Calculation:

Total Shares Eligible for Voting under Section 233: 655,327,349 (excluding ESOP trust shares)
Votes Polled: 596,763,644
Percentage Polled: 91.0634%
Votes in Favor: 596,761,731
Percentage in Favor: 91.0632% of eligible share capital

Scrutinizer's Role and Findings

Mr. Pramod S M, Designated Partner of BMP & Co. LLP, Practicing Company Secretary, was appointed as Scrutinizer. The scrutinizer's report confirms:

The remote e-voting event was unblocked on July 31, 2026 at 5:06 P.M. (IST) in the presence of two witnesses (Ms. Ishika Basu and Ms. Aryushi Agarwal)
407 members voted in favor of the resolution with 596,761,731 votes
12 members voted against the resolution with 1,913 votes
No invalid votes were cast
The ESOP trust (holding 15,338,286 shares) provided written consent to the scheme but abstained from voting as required by SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
The resolution passed with the requisite majority under Section 233 of the Companies Act, 2013

Compliance Confirmation

The voting process complied with:

Section 110 and 108 of the Companies Act, 2013
Rule 22 and Rule 20 of the Companies (Management and Administration) Rules, 2014
Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
MCA Circulars including General Circular No. 14/2020, 17/2020, and 03/2025
SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021

Signatories and Roles

Ravi Mallikarjun Hugar, Company Secretary and Compliance Officer (Membership Number: A20823) signed the declaration to the stock exchanges
Pramod S M, Designated Partner of BMP & Co. LLP (Membership No.: F7834/CP: 13784) prepared and signed the scrutinizer's report

Additional Information

The voting results and scrutinizer's report are available on the company's website (www.aequs.com/investor) and KFin Technologies Limited's website (https://evoting.kfintech.com).