Pursuant to the Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed voting results of Remote e-voting and poll conducted ....
ELITECON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Elitecon International held its 2nd EGM on August 29, 2025, where all six special resolutions were passed with overwhelming majority (99.99% in favour on all items). The key resolutions include approving a capital raise of up to Rs. 300 crore through a Qualified Institutions Placement (QIP), allowing investments, loans and guarantees beyond Section 186 limits, amending the objects clause of the Memorandum of Association, appointing Mr. Venkata Ramesh Penumaka and Mr. Susanta Kumar Panda as Independent Directors, and shifting the registered office from Delhi to Maharashtra. Only 42-43 shareholders out of 29,492 on the record date actually voted, indicating very low retail participation. No promoter or promoter group members attended in person or via video conferencing.
The QIP approval of up to Rs. 300 crore could lead to significant equity dilution for existing shareholders, while the registered office shift to Maharashtra aligns with the company's operational base in Nashik. The Section 186 approval gives the board broad flexibility to deploy capital, and the two new independent director appointments strengthen the board composition.