Avantel Limited has submitted the Exchange a copy of Srutinizers report of Annual General Meeting held on Jun 23, 2025 along with a copy of minutes.
AVANTEL · price
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Avantel Limited held its 35th Annual General Meeting on June 23, 2025 via video conferencing, where all 13 resolutions were approved by shareholders. Key items passed include the adoption of audited standalone and consolidated financial statements for FY ended March 31, 2025, a final dividend of Re. 0.20 per equity share (on face value of Rs. 2), and the re-appointment of Dr. Abburi Vidyasagar as Managing Director and Smt. Abburi Sarada as Whole-Time Director. Shareholders also approved the new 'Avantel Employees Stock Option Plan 2025', its extension to subsidiary employees, and the grant of ESOPs exceeding 1% of issued share capital. Other approved items include increasing borrowing limits under Section 180(1)(c), creating charges on company assets, and appointing M/s. P.S Rao & Associates as Secretarial Auditors for five years. Around 41.88% of outstanding shares were polled, with most resolutions getting over 99.9% approval, though institutional public shareholders voted against the ESOP resolutions (only 23.68% in favour).
Eligible shareholders will receive a final dividend of Re. 0.20 per share. The approval of the new ESOP plan and increased borrowing limits signals potential future share dilution and capacity for higher debt, while institutional investor pushback on the ESOP-related resolutions is worth noting. Overall, governance remains stable with the re-appointment of key promoter-family directors.