Akzo Nobel India Limited has informed the Exchange regarding Notice of Postal Ballot
JSWDULUX · price
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JSW Dulux Limited (formerly Akzo Nobel India Limited) has issued a Postal Ballot Notice seeking shareholder approval through remote e-voting for eight special business items. The items include the appointment of Mr. Kaustubh Sudhakar Kulkarni as a Non-Executive Non-Independent Director and Ms. Sutapa Banerjee as an Independent Director for a three-year term. The company is also seeking approval for amendments to its Articles of Association and the introduction of 'JSW Dulux Limited – Employee Stock Option Scheme 2026' (ESOP 2026), covering up to 3,75,124 equity shares (face value Rs. 10) to be issued to employees of the company, its subsidiaries, and its holding company. The ESOP will be implemented through an irrevocable employee welfare trust ('JSW Dulux ESOP Trust'), which will acquire shares via secondary acquisition, with the company authorized to provide up to 5% of its paid-up capital and free reserves as a loan to the trust. The e-voting window runs from March 28, 2026 to April 26, 2026, with the cut-off date for eligibility being March 20, 2026.
Shareholders get to vote on new director appointments and a sizable ESOP scheme that could lead to equity dilution of up to 3,75,124 shares via secondary acquisition. The rebrand to JSW Dulux Limited signals the JSW group's increased control, and the ESOP rollout aligns employees with parent and subsidiary interests, which may be viewed positively for long-term retention but warrants monitoring on dilution and governance.