India Shelter Finance Corporation Limited has informed the Exchange regarding Notice of Postal Ballot
INDIASHLTR · price
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India Shelter Finance Corporation is seeking shareholder approval via postal ballot to reclassify 15 individuals and entities (forming part of the Promoter and Promoter Group) to the Public category. The key outgoing promoter is Mr. Anil Mehta, who holds 1,570,734 shares (1.44% stake) as of March 31, 2026. The remaining 14 entities (including Crossland group companies and family members) hold NIL shares. Anil Mehta stepped down as Managing Director in November 2021 and as Chairman in July 2023 due to personal commitments, and has since had no involvement in management or business decisions. The Board approved this reclassification on February 7, 2026, and both NSE and BSE have already issued their No Objection Certificates (on May 21, 2026). Remote e-voting runs from May 26 to June 24, 2026, with results expected by June 29, 2026. The company confirms it meets minimum public shareholding requirements under SEBI regulations.
This is a housekeeping reclassification — Anil Mehta and related entities are already inactive in company affairs. It reduces the disclosed promoter holding from 1.44% to effectively 0%, which could trigger speculation about share sales by the outgoing promoter. No material impact on business operations expected.