Gloster Limited has informed the Exchange regarding Notice of Postal Ballot
GLOSTERLTD · price
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Awaiting price reaction for this filing.
Gloster Limited has issued a Postal Ballot Notice to shareholders seeking approval via e-voting for two special business items. The first resolution proposes to increase the company's borrowing limit under Section 180(1)(c) of the Companies Act, 2013, from the existing Rs. 250 crore to Rs. 500 crore. The second resolution seeks to raise the limit for creating mortgages or charges on the company's assets under Section 180(1)(a) from Rs. 250 crore to Rs. 500 crore. The earlier limit of Rs. 250 crore was approved by shareholders on 22 September 2018. The company has stated the increase is needed to meet additional funding requirements for business operations. E-voting will run from 9:00 AM on 6 January 2026 to 5:00 PM on 4 February 2026, with the cut-off date set as 2 January 2026.
Shareholders are being asked to double the company's borrowing capacity, which could mean the company anticipates needing more debt funding for growth, capex, or working capital. Approval gives the board flexibility to borrow and create charges up to Rs. 500 crore, though it does not commit the company to actually borrowing that full amount. The outcome is unlikely to cause an immediate stock price reaction, but rejection could constrain the company's expansion plans.