Interarch Building Solutions Limited has informed the Exchange regarding Notice of Postal Ballot
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Interarch Building Solutions has issued a Postal Ballot Notice to shareholders seeking approval through remote e-voting between 26 February 2026 and 27 March 2026, with the cut-off date set as 20 February 2026. Three special resolutions are on the table: (1) changing the stated purpose for which proceeds from the August 2024 IPO will be used, (2) appointing current CEO Mr. Manish Kumar Garg (DIN: 09083957) as Executive Director for a five-year term (2 Feb 2026 to 1 Feb 2031) with annual remuneration of around ₹2.14 crore (Basic ₹1.31 cr, HRA ₹65.4 lakh, PF ₹15.7 lakh, Driver ₹2.46 lakh, plus perquisites), and (3) approving a Qualified Institutional Placement (QIP) to raise up to ₹100 crore by issuing equity shares to institutional investors at a price not lower than 5% below the floor price, to be completed within 365 days. The notice has been sent electronically via CDSL, and the scrutinizer is CS Vineet K Chaudhary of VKC & Associates.
If approved, the QIP could dilute existing shareholders' stakes by issuing new equity worth up to ₹100 crore to institutional buyers, though it provides the company growth capital without adding debt. Investors should carefully review the change in use of IPO proceeds and the executive director's remuneration package before voting.