The cut-off date for determining the eligibility to vote by electronic means or in the General meeting has fixed as 23rd March, 2026.
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Awaiting price reaction for this filing.
Apollo Ingredients Ltd (formerly Indsoya Limited) has called an Extra-Ordinary General Meeting on March 30, 2026 at 4:00 PM via video conferencing. The key item on the agenda is seeking shareholder approval to ratify a deviation in the use of Rights Issue proceeds: Rs 3 crore out of the original Rs 5 crore Rights Issue (per the July 2025 Letter of Offer) was used for a 10-year lease of land and building from a related party, a use not originally disclosed. The original allocation was Rs 3.65 Cr for working capital, Rs 1.05 Cr for general corporate purposes, and Rs 0.30 Cr for issue expenses. The company is also seeking approval to reallocate Rs 0.02 Cr of unutilised issue expense funds to working capital. The cut-off date for e-voting eligibility is March 23, 2026, and the register of members will be closed from March 23 to March 30, 2026.
Shareholders should review this carefully as it involves retrospective approval of fund use that deviated from the original Rights Issue purpose, including payments to a related party. The move increases the working capital allocation to Rs 4.05 Cr but signals that the company used Rights Issue money differently than originally promised, which may raise governance concerns even though related-party approval was obtained earlier at the September 2025 AGM.