Bannari Amman Spinning Mills Limited has informed the Exchange about Copy of Newspaper Publication - Notice of Postal Ballot and Remote E-Voting.
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Bannari Amman Spinning Mills has informed the stock exchanges about publishing the Postal Ballot notice in newspapers (Business Standard in English and Makkal Kural in Tamil) on 2 July 2025, as required under SEBI listing rules. The Postal Ballot seeks shareholder approval for one Special Resolution: issuance of Warrants Convertible into Equity Shares to persons belonging to the Promoter and Promoter Group on a preferential basis. The cut-off date for eligibility is 30 June 2025, and the remote e-voting window runs from 2 July 2025 (10:00 AM) to 31 July 2025 (5:00 PM). CS R Dhanasekaran is the Scrutinizer, and MUFG Intime India Pvt Ltd is the e-voting facilitator.
If approved, this preferential issue of warrants to promoters will allow the promoter group to increase its stake in the company, but existing public shareholders may face equity dilution when these warrants are eventually converted into shares. The move generally signals promoter confidence and a possible fresh capital infusion into the textile/spinning business, though the size of the issue and conversion price will determine the actual dilution impact. Shareholders should review the Postal Ballot notice on the company or stock exchange websites and exercise their e-vote before 31 July 2025.