Meeting Details

This is a postal ballot process without a physical meeting. The voting is conducted through remote e-voting and physical postal ballot forms. The cut-off date for determining shareholder eligibility is Friday, September 18, 2026.

Proposed Resolution and Implications

The single special resolution seeks approval for:

  • Voluntary delisting of equity shares from NSE where the shares are currently listed
  • Acquisition of 81,17,327 equity shares (representing 25.11% of paid-up equity share capital) from public shareholders by Concatenate Advest Advisory Private Limited (Acquirer) and Jindal India Powertech Limited (Person Acting in Concert)
  • The promoter and promoter group currently hold 2,42,09,039 shares (74.89% of total issued equity capital)
  • The floor price for the delisting offer is ₹306.25 per share as determined by ICON Valuation LLP
  • The indicative price offered is ₹307 per share
  • Rationale includes obtaining full ownership, saving compliance costs, and providing exit opportunity to public shareholders

Voting Process and Methods

The company provides two voting methods:

1. Remote E-voting: Available through MUFG Intime India Private Limited's platform

2. Physical Postal Ballot: Through completed ballot forms sent to the scrutinizer

Remote E-voting Schedule:

  • Commencement: Thursday, October 1, 2026 at 09:00 AM IST
  • Conclusion: Friday, October 30, 2026 at 05:00 PM IST
  • Results Declaration: On or before Tuesday, November 3, 2026

Voting Requirements and Conditions

The delisting proposal requires:

  • Special resolution approval through postal ballot
  • Votes cast by public shareholders in favor must be at least two times the votes cast against
  • Acceptance of discovered price through reverse book building process
  • Regulatory approvals including in-principle approval from NSE

Scrutinizer Appointment and Role

The company has appointed Ms. Pragnya Parimita Pradhan (Membership No ACS 32778; COP No. 12030), proprietor of M/s Pragnya Pradhan & Associates, Company Secretaries, as the scrutinizer. Her responsibilities include:

  • Conducting the postal ballot process in a fair and transparent manner
  • Scrutinizing votes cast through e-voting and physical ballot forms
  • Preparing a scrutinizer report of votes cast for and against
  • Submitting the report to the Chairman of the company

Compliance with Laws and Regulations

The process complies with:

  • Sections 108 and 110 of the Companies Act, 2013
  • Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014
  • Regulation 44 of SEBI Listing Regulations
  • Regulation 11 of SEBI (Delisting of Equity Shares) Regulations, 2021
  • Various MCA circulars dated between 2020-2025
  • Secretarial Standard on General Meetings (SS-2)

Signatories and Company Information

  • Company Secretary & Compliance Officer: Mohit Srivastava (M. No. A-28505)
  • Scrutinizer: Ms. Pragnya Parimita Pradhan
  • RTA: MUFG Intime India Private Limited
  • Corporate Office: Plot No.12, Sector B-1, Local Shopping Complex Vasant Kunj, New Delhi-110070

Additional Information

The document includes detailed instructions for:

  • Remote e-voting procedures for NSDL and CDSL shareholders
  • Physical ballot form completion and submission
  • Helpdesk contacts for technical support
  • Registration procedures for institutional shareholders
  • Explanatory statement outlining material facts and rationale for delisting