IRB Infrastructure Developers Limited has informed the Exchange regarding voting results of Postal Ballot
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IRB Infrastructure Developers has announced the results of its postal ballot conducted via e-voting, with the last date of voting being March 23, 2026. All four resolutions were passed with the required majority. Resolution 1 (Issue of Bonus Shares to Equity Shareholders) received 98.92% votes in favor, with 83.13% of total shares voting. Resolution 2 (Increase in Authorized Share Capital and amendment to MoA) passed with 98.34% support. Resolution 3 (Material Related Party Transactions with IRB Chandibhadra Tollway, the TOT-18 Project SPV) was approved with 99.26% in favor, though the promoter group did not vote as they were deemed interested, resulting in only 16.10% of total shares voting. Resolution 4 (Re-appointment of Mrs. Deepali V. Mhaiskar as Whole-time Director) passed as a Special Resolution with 88.83% in favor, but saw notable institutional dissent of 17.54%.
Shareholders have approved a bonus share issue and an increase in authorized share capital, signaling management's intent to reward shareholders and provide room for future capital actions. The director re-appointment passed comfortably but with the lowest margin among the four resolutions due to significant institutional investor opposition, which investors may want to monitor. The related party transaction approval enables ongoing project execution through the TOT-18 SPV within the IRB Infrastructure Trust structure.