Scrutinizer Report along with E-Voting results of 1st EGM held as on 24/04/2025 through VC.
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Awaiting price reaction for this filing.
Jumbo Bag Ltd held its first EGM for FY26 on 24 April 2025 via video conferencing to seek shareholder approval for issuing 6,00,000 fully convertible warrants on a preferential basis to the promoter/promoter group and certain identified non-promoters. The resolution was passed as a Special Resolution with an overwhelming 99.99% votes in favour (35,15,821 out of 35,16,021 valid votes polled), with just 200 votes against. Promoter group voted fully in favour (34,52,838 shares), while public non-institutions polled 63,183 shares with 99.68% in favour. Out of 5,369 shareholders on record date, only 27 participated in e-voting, representing 41.99% of total outstanding shares (83,73,700).
The approval paves the way for a potential equity infusion via warrant conversion, which may dilute existing shareholders depending on the conversion price. Since the warrants are being issued primarily to promoters, this signals promoter confidence and a possible capital raise at a later stage once warrants are exercised.