Meeting Details

  • Type of Meeting: Postal Ballot through remote e-voting
  • Last Date of Receipt of Votes: June 25, 2026 (deemed date of passing)
  • Record Date: May 22, 2026
  • Total Number of Shareholders on Record Date: 42,893

Proposed Resolutions and Implications

The postal ballot sought shareholder approval for three special resolutions:

1. To approve variation in the objects of the issue/variation in the utilization of proceeds of the Initial Public Offer (IPO)

2. To approve amendments in the Prostarm Employee Stock Option Plan 2024 (ESOP 2024) for employees of the company

3. To approve amendments in the Prostarm Employee Stock Option Plan 2024 (ESOP 2024) for employees of the subsidiary company(ies)

Voting Process and Methods

The remote e-voting process was conducted through NSDL's platform (www.evoting.nsdl.com) with the following timeline:

  • Commencement: May 27, 2026 at 9:00 AM IST
  • Closing: June 25, 2026 at 5:00 PM IST
  • Votes were unblocked on June 25, 2026 after completion of e-voting in the presence of two witnesses not employed by the company

Key Voting Outcomes

Resolution 1: Variation in IPO Proceeds Utilization

  • Total Votes Cast: 42,947,267 (72.95% of outstanding shares)
  • Votes in Favor: 42,944,087 (99.9926% of votes cast)
  • Votes Against: 3,180 (0.0074% of votes cast)
  • Promoter Group: 42,882,736 votes cast (100% in favor)
  • Public Institutions: 1,009 votes cast (100% in favor)
  • Public Non-Institutions: 63,522 votes cast (94.9939% in favor, 5.0061% against)

Resolution 2: ESOP 2024 Amendments for Company Employees

  • Total Votes Cast: 42,947,087 (72.9467% of outstanding shares)
  • Votes in Favor: 42,944,798 (99.9947% of votes cast)
  • Votes Against: 2,289 (0.0053% of votes cast)
  • Promoter Group: 42,882,736 votes cast (100% in favor)
  • Public Institutions: 1,009 votes cast (100% in favor)
  • Public Non-Institutions: 63,342 votes cast (96.3863% in favor, 3.6137% against)

Resolution 3: ESOP 2024 Amendments for Subsidiary Employees

  • Total Votes Cast: 42,947,087 (72.9467% of outstanding shares)
  • Votes in Favor: 42,944,720 (99.9945% of votes cast)
  • Votes Against: 2,367 (0.0055% of votes cast)

Scrutinizer's Role and Findings

Sandeep P. Parekh of Sandeep P Parekh & Co, Company Secretaries (Membership No: 7118) was appointed as scrutinizer at the Board Meeting held on May 22, 2026. The scrutinizer confirmed:

  • The postal ballot was conducted in accordance with MCA circulars and applicable regulations
  • Notice was dispatched/emailed to members on May 26, 2026
  • A public notice was published in Financial Express (English) and Mumbai Lakshadeep (Marathi) on May 27, 2026
  • The voting process was fair and transparent
  • All three special resolutions were passed with requisite majority

Compliance Confirmation

The process complied with:

  • Sections 108 and 110 of the Companies Act, 2013
  • Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014
  • Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • SEBI Circular No. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated December 9, 2020
  • Secretarial Standard on General Meetings (SS-2) to the extent applicable

Additional Information

  • Company CIN: L31900MH2008PLC368540
  • Results available on company website: www.prostarm.com
  • Scrutinizer's firm peer review number: 7177/2025