Kalpataru Limited has informed the Exchange regarding Notice of Postal Ballot
KALPATARU · price
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Kalpataru Limited has issued a Postal Ballot Notice (dated July 16, 2025) seeking shareholder approval through e-voting on six items. Three items relate to the company's Employee Stock Option Scheme 2024 (ESOS 2024): ratification of the scheme, ratification of options granted to subsidiary employees, and approval to extend options to employees of group and associate companies. The ESOP ceiling is capped at 54 lakh equity shares of face value Rs 10 each. The other three items seek approval for material related party transactions involving corporate guarantees totalling roughly Rs 2,349 crore in favour of HDFC Bank (Rs 1,734 crore by subsidiary Agile Real Estate for the company, and Rs 615 crore by Agile Real Estate for Kalpataru Properties) plus a Rs 400 crore term loan to wholly owned subsidiary Alder Residency from ICICI Bank, which will be personally guaranteed by Promoter and Managing Director Mr. Parag M. Munot. E-voting runs from 9:00 a.m. on August 1, 2025 to 5:00 p.m. on August 30, 2025, with the cut-off date for eligibility being July 25, 2025.
Shareholders should review and vote during the August 1-30, 2025 e-voting window. Approval will formally ratify the post-IPO ESOP scheme and clear the way for large inter-corporate guarantees and a promoter personal guarantee, which are routine for the group's financing arrangements but represent significant contingent liabilities tied to promoter support.