Jindal Worldwide Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report.
JINDWORLD · price
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Jindal Worldwide Limited has submitted the Scrutinizer's Report for a Postal Ballot conducted to seek shareholder approval for selling 51% of its equity share capital in its wholly-owned material subsidiary, Goodcore Spintex Private Limited. The resolution was passed as a Special Resolution on 1st August 2025 with overwhelming shareholder support — 99.64% of votes (approximately 30.95 crore votes) were cast in favour, while only 0.36% (about 11.11 lakh votes) were against. The approval was sought under Section 180(1)(a) of the Companies Act, 2013 and SEBI LODR Regulations 24(5) and 37A, which govern disposal of substantial subsidiary stakes. The Postal Ballot was conducted entirely through remote e-voting via CDSL, with the cut-off date set as 20th June 2025.
Shareholders have cleared the way for Jindal Worldwide to divest majority control (51%) of a material subsidiary, which is a significant restructuring move. This could lead to a change in the subsidiary's consolidation status and may affect future revenue and earnings reporting, depending on what business Goodcore Spintex operates in. Investors should watch for further disclosures on the buyer, deal value, and post-sale financial impact.