Please find enclosed herewith with the Outcome of Postal Ballot
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Desco Infratech Limited announced the results of its postal ballot conducted via remote e-voting from November 19, 2025 to December 18, 2025. Shareholders voted on one special resolution to approve a variation in the terms of objects of the IPO for which funds were raised through the prospectus. Out of 7,676,008 total outstanding shares, 4,742,028 shares (61.78%) were polled. The resolution passed with overwhelming support — 4,734,942 votes (99.85%) in favour and only 7,086 votes (0.15%) against. Promoters unanimously supported the resolution with 100% of their 4,461,000 shares voted in favour. Among public non-institutions, 97.38% voted in favour, while public institutions showed 100% support on the shares polled.
Shareholders have approved the company's request to vary the use of IPO proceeds, giving the management flexibility to deploy funds differently than originally stated in the prospectus. This is a significant governance development that investors should note, as it changes the originally promised deployment of IPO money.