The Company has submitted scrutinizer"s report for postal ballot results.
BONLON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Bonlon Industries has concluded its postal ballot process with both resolutions passed. The first was an ordinary resolution to increase the company's authorized share capital and amend the Capital Clause of the Memorandum of Association, which received 99.96% support with 54,64,735 votes in favour against just 4,046 against. The second was a special resolution to issue up to 2,00,60,000 (roughly 2.006 crore) fully convertible warrants to promoter/promoter group members and non-promoter public category persons, approved with 99.25% support (53,85,715 votes in favour, 4,082 against). As the promoter group was interested in this resolution, their 89,26,124 shares were treated as invalid and excluded from voting. Voting took place between April 9 and May 8, 2025, and results were declared on May 12, 2025, with 3,631 shareholders on record.
The warrant issuance of up to ~2 crore convertible warrants could lead to significant equity dilution for existing public shareholders. On conversion, this could materially expand the share count and strengthen the promoter group's stake, potentially affecting per-share metrics and minority shareholder value.