Dredging Corporation of India Limited has informed the Exchange regarding Notice of Postal Ballot
DREDGECORP · price
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Awaiting price reaction for this filing.
Dredging Corporation of India (DCI) is seeking shareholder approval via postal ballot for two key items. First, approval of material related party transactions with its four promoter port authorities for FY2026-27: Visakhapatnam Port Authority (up to ₹300 crore), Paradip Port Authority (up to ₹500 crore), Jawaharlal Nehru Port Authority (up to ₹600 crore), and Deendayal Port Authority (up to ₹500 crore). These cover dredging services, equipment, and other business arrangements conducted at arm's length. Second, the company proposes to double its authorised share capital from ₹30 crore (3 crore equity shares of ₹10 each) to ₹60 crore (6 crore equity shares of ₹10 each), and amend the Capital Clause of its Memorandum of Association accordingly. The four port authorities collectively hold 73.47% of DCI's equity as promoters.
This is largely a procedural compliance step — the RPTs are part of DCI's regular business with its promoter ports and the authorised capital increase creates headroom for future fund-raising, though no specific issue is announced yet. Minority shareholders should note that related parties will not vote on the RPT resolutions. No immediate impact on share price is expected.