Scrutinizer Report enclosed
APOLLO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Apollo Micro Systems announced voting results of a postal ballot concluded on December 6, 2025, covering two resolutions. Resolution 1, an Ordinary Resolution to approve material Related Party Transactions, was rejected by shareholders, with 52.33% voting against and only 47.67% in favour (total 10.6 million shares polled, just 3.18% of outstanding shares). Promoters did not participate in this vote as they were deemed interested. Resolution 2, a Special Resolution to approve giving a loan, guarantee, or security for the loan availed by IDL Explosives Limited (a probable step-down subsidiary) under Section 185 of the Companies Act, was passed with 97.70% in favour (177.5 million shares) and only 2.30% against, with promoter group fully supporting it.
Shareholders' rejection of the material Related Party Transaction is a negative governance signal and may force the company to revise or withdraw the proposed deal. Approval of the IDL Explosives loan facility clears the way for the company to extend financial support to its step-down subsidiary, potentially impacting its balance sheet exposure.