Meeting Details
- Date of Meeting: Thursday, May 21, 2026
- Time of Meeting: 2:00 PM
- Type of Meeting: Extraordinary General Meeting (EGM)
- Location/Mode: Held through Video Conferencing / Other Audio-Visual Means (VC / OAVM)
- Record Date: Thursday, May 14, 2026
Summary of Proposed Resolutions and Implications
Five resolutions were proposed for shareholder approval:
1. Special Resolution: To approve raising of funds by issuance of Foreign Currency Convertible Bonds (FCCBs).
2. Ordinary Resolution: To increase the Authorized Share Capital of the Company and consequential amendment in the Memorandum of Association.
3. Special Resolution: Approval of loans, guarantees, securities, and investments under Section 186(2) of the Companies Act, 2013.
4. Special Resolution: Increase in investment limits for Foreign Portfolio Investors and Non-Resident Indians/Overseas Citizens of India.
5. Ordinary Resolution: Reclassification of certain persons forming part of the 'Promoter and Promoter Group' to 'Public' category.
Voting Process and Methods
- Voting was conducted through two methods: remote e-voting and e-voting during the EGM.
- The remote e-voting facility was provided through Central Depository Services (India) Limited (CDSL).
- The remote e-voting period started on Monday, May 18, 2026 at 09:00 AM and ended on Wednesday, May 20, 2026 at 05:00 PM.
- Shareholders present at the EGM through VC/OAVM who had not voted remotely were allowed to cast their votes through the e-voting system during the meeting.
Key Voting Outcomes
Overall Participation
- Total number of shareholders on record date: 433,838
- Total number of shares outstanding on record date: 8,33,40,72,725
- Shareholders attending meeting through video conferencing:
- Promoters and Promoter Group: 1
- Public: 49
Resolution-wise Results
Resolution 1: FCCB Fundraising (Special Resolution)
- Total votes polled: 110,042,0103 (13.2039% of outstanding shares)
- Votes in favour: 110,034,7343 (99.9934% of votes polled)
- Votes against: 72,760 (0.0066% of votes polled)
- Invalid votes: 0
Resolution 2: Increase in Authorized Capital (Ordinary Resolution)
- Total votes polled: 110,046,7518 (13.2044% of outstanding shares)
- Votes in favour: 107,768,7123 (97.9299% of votes polled)
- Votes against: 22,780,395 (2.0701% of votes polled)
- Invalid votes: 0
Resolution 3: Loans & Investments (Special Resolution)
- Total votes polled: 109,978,6755 (13.1963% of outstanding shares)
- Votes in favour: 106,764,8549 (97.0778% of votes polled)
- Votes against: 32,138,206 (2.9222% of votes polled)
- Invalid votes: 0
Resolution 4: FPI/NRI Investment Limits (Special Resolution)
- Total votes polled: 110,041,3018 (13.2038% of outstanding shares)
- Votes in favour: 110,034,4989 (99.9938% of votes polled)
- Votes against: 68,029 (0.0062% of votes polled)
- Invalid votes: 0
Resolution 5: Promoter Reclassification (Ordinary Resolution)
- Total votes polled: 110,041,3018 (13.2038% of outstanding shares)
- Votes in favour: 107,197,8805 (97.4160% of votes polled)
- Votes against: 28,434,213 (2.5840% of votes polled)
- Invalid votes: 402,155,574 (votes cast by Promoter and Promoter Group, treated as invalid since they were interested parties)
Scrutinizer's Role and Findings
- Scrutinizer: Sumitkumar Hareshbhai Patel of Richi Prerak & Associates, Practicing Company Secretaries
- Role: Appointed to scrutinize the remote e-voting and e-voting process during the EGM.
- Findings: After the closure of e-voting during the EGM, votes cast through both methods were unblocked from CDSL's website in the presence of two witnesses who were not employees of the company.
- Conclusion: All resolutions were approved by the members with the requisite majority.
Compliance Confirmation
The voting process and disclosure comply with:
- Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Section 108 of the Companies Act, 2013
- Rule 20 of the Companies (Management and Administration) Rules, 2014
- Relevant CDSL circulars and MCA guidelines