Announced Mon, 6 Jul · 14:20 IST
Shareholders approve change in use of IPO proceeds
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GKSL · price
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Price reaction · full curve 14 horizons · vs prior close
-0.7%1-day move
₹129.89
prior close
₹127.33
base price
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AI summary
Shareholders approved a special resolution by postal ballot to vary the objects and terms of use of the company's IPO proceeds. About 5.68 crore shares were voted, covering 72.16% of outstanding shares. Of these, 99.9995% voted in favor and only 286 shares voted against. Promoters fully backed the resolution with all their shares.
Likely market impact
Company can now redirect IPO funds to different uses than originally planned. Investors should review the new objects and assess fit with business strategy.