Voting results as per regulation 44(3) of SEBI (LODR) Regulation 2015 of 39th Annual General Meeting of Bisil Plast Limited held on 27th September 2025 at 12 Pm
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Bisil Plast Limited held its 39th AGM on 27 September 2025 via video conferencing, where all 8 resolutions were approved with over 99.8% support. Key approvals included the adoption of FY25 audited financial statements, re-appointment of director Mr. Jagdip Panachand Vora (retire by rotation), appointment of Mr. Ravikumar Kirtibhai Patel as Managing Director for 5 years (Sept 2025 to Sept 2030), and appointment of M/s Vishakha Agrawal & Associates as Secretarial Auditor for 5 years (FY26 to FY30). Shareholders also cleared raising the FPI/FII investment ceiling to 49% of paid-up equity capital, allowing loans/guarantees/investments up to Rs. 500 crore under Section 186, and approving a Qualified Institutions Placement (QIP) to raise up to Rs. 99 crore through equity shares. Out of 46,322 shareholders on record, only 35 public shareholders attended through VC and 93 voted via e-voting, with total votes polled at 240,377 shares—just 0.445% of outstanding shares. No promoter votes were cast despite the company having 46,322 shareholders on record.
The QIP approval paves the way for potential equity dilution of up to Rs. 99 crore to institutional investors, which existing shareholders should watch closely. The higher FPI cap (49%) and expanded Section 186 borrowing limit (Rs. 500 crore) signal the company's intent to attract foreign capital and step up investment activity, though the very low voting turnout (under 0.5%) reflects limited retail participation in this meeting.