Antarctica Limited has informed the Exchange regarding Notice of Postal Ballot
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Antarctica Limited has issued a postal ballot notice to shareholders seeking approval to withdraw a resolution passed on November 7, 2024 that had increased the company's authorized share capital. The Board of Directors has stated that the earlier capital increase is of no use to the company and wants to rescind and nullify that resolution with immediate effect. As a result, the authorized share capital will revert to Rs. 67 crore, divided into 67 crore equity shares of Re. 1 each. E-voting will be open from June 10, 2025 to July 9, 2025 through NSDL's electronic voting platform. Results will be announced within two working days after the voting period ends, and the resolution will be deemed passed on July 9, 2025 if approved by the required majority.
For shareholders, this means any fundraising or share issuance plans that the earlier capital hike was meant to support are now being shelved. The move leaves the capital structure unchanged from before November 2024, which is neutral for existing shareholders but suggests the company has no immediate plans to raise fresh equity.