GE Vernova T&D India Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
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GE Vernova T&D India Limited has announced the results of a postal ballot where shareholders approved a material related party transaction with GE Grid Solutions LLC. The resolution passed with 99.9977% votes in favour out of 90.65 million votes polled. The company's promoter group (holding 130.58 million shares) did not vote as they were interested in the transaction. Institutional investors showed strong support with all polled votes (90.59 million) going in favour, while public non-institutional shareholders had 51,905 votes for and 2,087 against. The overall participation was 35.40% of total shares. The scrutinizer, Mr. Sachin Khurana from M/s. RMG & Associates, verified the results.
Shareholders have approved the related party transaction, removing a key regulatory hurdle. The strong institutional support and near-unanimous approval signal confidence in the deal, though the stock may see limited reaction as the outcome was largely expected given the voting pattern.