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Awaiting price reaction for this filing.
Deepak Spinners Limited has issued a Postal Ballot Notice seeking shareholder approval for two special resolutions via remote e-voting from January 1 to January 30, 2026. Resolution 1 proposes altering the Memorandum of Association (MOA) to add electricity generation and power distribution from conventional and non-conventional sources (solar, wind, hydel, etc.) for captive use or sale to third parties and government, and to delete the 'Other Objects' clause. Resolution 2 proposes amending the Articles of Association (AOA) to insert definitions for Power Purchase Agreements and Projects related to power generation. The changes are driven by the company's existing captive power setup — a 7 MW solar plant at Guna and a 1 MW solar plant at Rajgarh in Madhya Pradesh — which supplies electricity to its manufacturing facility at Village Pagara, Guna.
This is largely a procedural and compliance exercise to align the company's constitutional documents with the Electricity Act, 2003 and Madhya Pradesh government guidelines governing captive power generation. No fresh capital raise, business expansion, or change in control is involved, so the direct impact on shareholders or stock price is expected to be limited.