Result of Postal Ballot along with the Scrutinizer''s Report
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Jyoti Limited announced the result of a postal ballot seeking shareholder approval to ratify the issuance and allotment of equity shares on a preferential basis to persons belonging to the Non-Promoter group. The voting was conducted via remote e-voting from April 18, 2025 to May 17, 2025. Out of 18,154 shareholders on record, 60 shareholders participated with 1,20,73,192 shares (52.28% of outstanding shares) being polled. The special resolution was passed overwhelmingly with 99.9981% votes in favour (1,20,72,962 shares) and only 230 shares (0.0019%) voted against. The scrutinizer, Mr. Ravi Kapoor, Practicing Company Secretary, confirmed the resolution was carried with the requisite majority.
This confirms shareholder backing for a preferential share issuance to non-promoter entities, which will dilute existing shareholders and bring in new non-promoter investors. The near-unanimous approval suggests minimal promoter/public opposition, but retail investors should note the equity dilution from this preferential allotment.