Hariom Pipe Industries Limited has informed the Exchange regarding Notice of Postal Ballot
HARIOMPIPE · price
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Hariom Pipe Industries has issued a postal ballot notice seeking shareholder approval through remote e-voting (March 9, 2026 to April 7, 2026) on three items. Resolution 1 is a Special Resolution to re-appoint Mr. Rajender Reddy Gankidi (DIN: 09165223) as a Non-Executive Independent Director for a second 5-year term starting May 15, 2026. Resolution 2 seeks approval for material related party transactions with subsidiary Hariom Power and Energy Private Limited (HPEPL) of up to Rs. 270 Crore, mainly as a corporate guarantee plus loans/investments to fund a solar power project aligned with the company's green steel and ESG goals. Resolution 3 seeks approval for material related party transactions with subsidiary Metal Mart Private Limited (MMPL) of up to Rs. 330 Crore, covering sale of goods, loans, guarantees, and investments to support the Telangana unit's operations and eligibility for mega subsidy benefits. Results are to be announced on or before April 09, 2026.
These are procedural governance items requiring shareholder approval. If approved, the company can extend Rs. 600 Crore in combined support to its two subsidiaries — supporting a captive solar power play and operational growth — though this also expands contingent liabilities and inter-company exposures that retail investors should note.