Intimation of Postal Ballot Notice under Regulation 30 of SEBI Listing Regulation.
BELRISE · price
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Belrise Industries Ltd is seeking shareholder approval via postal ballot for raising funds up to INR 20,000 million (₹2,000 crore) through a Qualified Institutions Placement (QIP). The company proposes to issue equity shares of face value Rs. 5 each or equity-linked instruments to Qualified Institutional Buyers (QIBs) in one or more tranches. The proceeds will be used for investing in subsidiaries, funding business growth including product portfolio expansion and strategic acquisitions, repaying debts, meeting working capital requirements, and general corporate purposes. Remote e-voting runs from June 1 to June 30, 2026, with results expected by July 2, 2026. This requires a special resolution passed by shareholders.
Approval would enable the company to raise significant capital for growth and debt reduction, but will result in equity dilution for existing shareholders. QIBs subscribing to the QIP will gain stakes in the company.