Key Resolution

Shareholders were asked to approve a special resolution: To approve raising funds by way of issuance of Equity Shares through Qualified Institutions Placement (QIP).

Process and Timeline

  • The Postal Ballot Notice was dated June 18, 2026, and submitted to the exchanges on June 19, 2026.
  • The remote e-voting process was conducted from 9:00 a.m. IST on Saturday, June 20, 2026, to 5:00 p.m. IST on Sunday, July 19, 2026.
  • The cut-off date for determining shareholder eligibility to vote was Wednesday, June 17, 2026.
  • Mr. Ashish Shah, Partner of M/s. Ashish Shah & Associates, Practicing Company Secretaries, was appointed as the Scrutinizer for the process.
  • The resolution is deemed to have been passed on Sunday, July 19, 2026, the last date of the e-voting.

Voting Results

The special resolution was passed by the members with the requisite majority. The detailed voting results are as follows:

Overall Voting (E-Voting + Poll)

  • Total Number of Shareholders on Record Date: 62,985
  • Total Number of Shares Outstanding: 526,971,060
  • Total Number of Votes Polled: 404,603,686 shares (76.7791% of outstanding shares)
  • Votes in Favor: 404,601,759 shares (99.9995% of votes polled)
  • Votes Against: 1,927 shares (0.0005% of votes polled)

Category-wise Breakdown (E-Voting Only)

  • Promoter and Promoter Group: Voted 1,611,536 shares (100% in favor). They held 44,277,395 shares.
  • Public - Institutions: Voted 218,200 shares (99.1168% in favor, 0.8832% against). They held 11,039,463 shares.
  • Public - Non-Institutions: Voted 404,385,486 shares (99.9995% in favor, 0.0005% against). They held 73,157,647 shares.

Shareholder Participation (Remote E-Voting Only)

  • Number of Members who Voted: 174
  • Number of Shares Voted: 404,603,686
  • Members Voting in Favor: 166 members (404,601,759 shares)
  • Members Voting Against: 8 members (1,927 shares)
  • Invalid/Abstain Votes: 100 shares

Scrutinizer's Report

The Scrutinizer confirmed the remote e-voting process was conducted fairly and transparently. The Company engaged KFin Technologies Limited as the service provider for the e-voting via its website https://evoting.kfintech.com/. The notice was dispatched via email and published in Business Standard (English) and Loksatta (Gujarati) on June 20, 2026.