Notice of Postal Ballot
Price
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Captain Technocast Ltd is seeking shareholder approval via postal ballot for the sale of its entire 51% stake (4,08,000 equity shares) in Vartis Engineering Private Limited, which is classified as a Material Subsidiary. The buyers are Mr. Rahul Nimavat and Mr. Ashokbhai K. Bhut. The transaction is valued at INR 1,95,88,080 (approximately Rs. 1.96 crore), based on a valuation report dated May 4, 2026 approved by the Audit Committee and Board. The company states the sale will provide liquidity for operational growth and strengthen the balance sheet. The voting period runs from May 19, 2026 to June 17, 2026, with results expected by June 18, 2026. This requires a Special Resolution under Section 180(1)(a) of the Companies Act and Regulation 24(5) of SEBI LODR.
Shareholders should note this will result in complete divestment of a material subsidiary, reducing the company's subsidiary portfolio. The ~Rs. 1.96 crore proceeds are intended to improve liquidity and strengthen the balance sheet. This transaction requires shareholder approval and affects the company's corporate structure.