Notice of Postal Ballot
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Awaiting price reaction for this filing.
Interactive Financial Services Ltd has issued a Postal Ballot Notice seeking shareholder approval on two items through e-voting from August 27 to September 25, 2025. The first is a Special Resolution to change the use of ₹304.50 lakhs from its Rights Issue (January 2025 Letter of Offer) — originally earmarked for acquiring two office units in Ahmedabad's '3RD EYE VISION' project — and instead reallocate the amount toward increasing the company's net worth. The board cited unforeseen infrastructure changes around the property and a strategic reassessment as reasons. The company currently has a net worth of about ₹27.7 crore (as of March 31, 2025) and needs to scale up to ₹50 crore within two years to retain its Category-I Merchant Banker license under SEBI rules. The second item is an Ordinary Resolution to appoint M/s Insiya Nalawala & Associates as Secretarial Auditor for five years (FY26 to FY30), at a fee of ₹1.40 lakh plus taxes for FY26. Dissenting shareholders on the first resolution will be offered an exit opportunity as per SEBI norms.
For shareholders: the capital originally meant for office expansion will now boost net worth — supportive of the merchant banking license but a signal that the earlier growth plan is being shelved. The exit offer for dissenters is a key protection to watch. The auditor appointment is routine compliance and unlikely to move the stock.