The Books will remain closed from 23rd March, 2026 to 30th March, 2026 for the purpose of Extra Ordinary General Meeting.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Apollo Ingredients Limited has called an Extra-Ordinary General Meeting (EGM) on Monday, March 30, 2026, at 4:00 PM via video conferencing. The Register of Members and Share Transfer Books will remain closed from March 23 to March 30, 2026 (both days inclusive), with March 23, 2026 fixed as the cut-off date for e-voting eligibility. The only business on the agenda is a special resolution seeking shareholder approval to ratify a deviation in the use of Rights Issue proceeds (₹5.00 Crore raised in July 2025) and to reallocate ₹0.02 Crore from Issue Expenses to working capital. The key deviation involves ₹3.00 Crore from the Rights Issue being used to pay for a 10-year land and building lease from a related party, a use not originally disclosed in the Final Letter of Offer. While related-party transaction approval was obtained at the September 27, 2025 AGM, the company is now seeking ratification under Section 27 of the Companies Act, 2013 and SEBI Listing Regulations for this change in use of funds.
Shareholders should evaluate this resolution carefully because it asks them to retrospectively approve a significant change in how their Rights Issue money was used — diverting ₹3 Crore (60% of the total issue) to a related-party lease. Approval is necessary to regularize the deviation and avoid regulatory issues, but voting against could create compliance complications. The stock price reaction will likely depend on how the market views the related-party lease terms and corporate governance.