India Glycols Limited has informed the Exchange regarding Notice of Postal Ballot
INDIAGLYCO · price
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India Glycols Limited has issued a Postal Ballot notice seeking shareholder approval through remote e-voting (NSDL) for 5 special business items. The key resolution is the sub-division of equity shares from a face value of Rs. 10 to Rs. 5, effectively doubling the share count from 3.09 crore to 6.19 crore shares, while the total paid-up capital stays at Rs. 30.96 crore. Two other resolutions seek adoption of a new Memorandum of Association (with expanded business objects) and a new set of Articles of Association aligned with the Companies Act, 2013. The remaining two resolutions seek re-appointment of Ms. Pragya Bhartia Barwale as Executive Director (5 years from June 24, 2025, at Rs. 1 crore salary plus 2% net profit commission) and Shri U.S. Bhartia as Chairman & Managing Director (5 years from April 1, 2026, at Rs. 4.80 crore salary plus 4% net profit commission). The e-voting window runs from June 23, 2025 to July 22, 2025, with results to be declared within 2 working days thereafter.
If approved, the share split should improve liquidity and make the stock more accessible to retail investors, though the per-share price will adjust proportionally. The re-appointments of promoter directors with remuneration that may exceed SEBI's prescribed limits (Resolution 5 explicitly seeks shareholder approval to override Regulation 17(6)(e)) are notable and may draw attention from institutional investors focused on governance.