EGM approves reallocation of rights issue proceeds and ratifies deviation
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Apollo Ingredients Ltd (formerly Indsoya) held an EGM on March 30, 2026. Shareholders approved a special resolution to reallocate rights issue proceeds and ratify deviation in partial utilisation of the issue. All 7,960,983 votes polled (76.55% of 1.04 crore outstanding shares) were in favor, with zero against. Promoters holding 66.59 lakh shares and public shareholders holding 10.36 lakh shares unanimously supported the move. Ravi Patidar & Associates served as scrutinizer.
Reallocation of rights issue proceeds approved unanimously, giving company flexibility on use of previously raised capital with no shareholder dissent.