Afcons Infrastructure Limited has informed the Exchange regarding Notice of Postal Ballot
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Afcons Infrastructure has issued a Postal Ballot Notice seeking shareholder approval for a Material Related Party Transaction between its wholly-owned subsidiary Afcons Construction Mideast LLC and Shapoorji Pallonji Mideast LLC, a subsidiary of its promoter company Shapoorji Pallonji and Company Pvt Ltd. The aggregate transaction value is capped at ₹3,900 crore, comprising ₹3,000 crore for subcontract works and ₹900 crore for corporate guarantees/letter of comfort, related to an infrastructure package of a greenfield Island development project in Abu Dhabi, UAE. The transaction requires shareholder approval as an Ordinary Resolution because it exceeds the SEBI materiality threshold of 10% of annual consolidated turnover for related party transactions. E-voting runs from January 12, 2026 (9:00 AM IST) to February 10, 2026 (5:00 PM IST), with results expected on or before February 12, 2026. The cut-off date for eligibility is January 02, 2026, and NSDL has been engaged as the e-voting agency.
This is a procedural compliance step mandated by SEBI listing rules since the deal value crosses the materiality threshold and involves a promoter-group entity. The transaction is stated to be at arm's length and in the ordinary course of business, and the Audit Committee has already recommended it. Shareholders should review the explanatory statement and rationale before voting; outcome is unlikely to materially affect near-term stock price but is a governance checkpoint for promoter-group dealings.