IMP Powers Limited has informed the Exchange regarding Notice of Postal Ballot
Awaiting price reaction for this filing.
IMP Powers Limited has sent a Postal Ballot Notice to shareholders seeking approval for two material related party transactions for the financial year 2026-27. The first resolution seeks approval for transactions worth up to INR 100 Crores with GSEC Limited, a related party, for purchasing raw materials and parts used in manufacturing electrical transformers. The second resolution seeks approval for transactions with Electrify Energy Private Limited, which is the promoter company of IMP Powers and is a subsidiary of GSEC Limited. Chairman Mr. Rakesh Shah and Director Mr. Shaishav Shah have direct and indirect stakes in GSEC Limited (27.60% and 6.45% directly, plus indirect holdings through Komal Infotech), making them interested parties. Remote e-voting will be available from February 27, 2026 to March 28, 2026, and results will be declared within two working days after voting closes.
Shareholders should review these transactions carefully as they involve the promoter group, though both have been approved by the Audit Committee and Board as arm's length and in the ordinary course of business. The transaction-to-turnover ratio appears unusually high (2140% for GSEC) because IMP Powers had no operations in the prior financial year after being taken over as a going concern entity under liquidation, which may warrant further investor scrutiny.