Krishna Defence And Allied Industries Limited has informed the Exchange regarding Notice of Postal Ballot
KRISHNADEF · price
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Krishna Defence and Allied Industries Limited has issued a postal ballot notice dated April 8, 2025, seeking shareholder approval through e-voting for two special resolutions. The first resolution proposes migrating the company's equity shares from the NSE Emerge (SME platform) to the Main Board of both BSE and NSE, as the company is eligible with a market capitalisation exceeding Rs. 25 crore and paid-up equity share capital of Rs. 14.05 crore (1.40 crore shares of Rs. 10 each). The second resolution seeks approval for the appointment of RAdm Anil Kumar Dutta (Retd, IN), DIN 10993940, a retired Indian Naval Officer with 35 years of service and expertise in naval architecture and submarine design, as an Independent Director for five years effective March 25, 2025. E-voting runs from April 10, 2025 (9:00 AM) to May 9, 2025 (5:00 PM), with the cut-off date for eligibility set as April 4, 2025.
If approved, the migration to the main board could increase the stock's visibility, liquidity, and retail investor participation, which is generally positive for existing shareholders. The addition of a senior defence sector veteran as Independent Director strengthens board expertise, though the resolutions require shareholder approval with at least two-thirds majority support from non-promoter shareholders for the migration to pass.