Gujarat Industries Power Company Limited has submitted the Exchange a copy Scrutinizer's report of Postal Ballot
GIPCL · price
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Awaiting price reaction for this filing.
Gujarat Industries Power Company Limited (GIPCL) concluded its postal ballot process (e-voting held from April 17 to May 16, 2025) with all 4 resolutions passing with the required majority. Out of 92,220 shareholders on record, 213 cast e-votes, representing 65.14% of outstanding shares (98.53 million votes). Three resolutions passed with over 99% approval: appointment of Shri Susanta Kumar Roy as Independent Director (99.99%), appointment of Smt. Suchita Gupta as Independent Director (99.99%), and appointment of Smt. Avantika Singh Aulakh (IAS) as Nominee Director of GACL (99.86%). The reappointment of Shri Prabhat Singh as Independent Director passed with comparatively lower support of 92.85%, with public institutional investors notably split — 51.90% in favour and 48.10% against. The promoter group voted unanimously in favour of all resolutions.
All board appointments are confirmed, strengthening GIPCL's governance structure. The relatively lower approval (92.85%) and significant institutional dissent (48%) on Prabhat Singh's reappointment signals some shareholder reservations, though the resolution still cleared the special resolution threshold comfortably.