Allcargo Gati Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
Awaiting price reaction for this filing.
Allcargo Gati Limited conducted a postal ballot (March 11 – April 10, 2025) seeking shareholder approval to sell its fuel stations at Bengaluru and Indore as special resolutions. Both resolutions were passed with 95.44% of votes in favour and 4.56% against, comfortably clearing the special resolution threshold. Out of 14.7 crore outstanding shares, about 6.86 crore (46.68%) were polled. Promoter group voted strongly in favour (96.58% in favour, 3.42% against), while public non-institutions were mostly against (only 28.10% in favour, 71.90% against) and public institutions unanimously opposed. The scrutinizer confirmed the results on April 12, 2025.
The approval allows the company to divest its non-core fuel station assets, potentially unlocking cash for core logistics operations. The sharp split between promoter and public minority votes signals minority investor concern about the transaction, though it does not block the sale.