Kshitij Polyline Limited has submitted the Exchange a copy Scrutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results
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Kshitij Polyline Limited has disclosed the results of its Postal Ballot conducted via remote e-voting between June 24 and July 23, 2025, as per SEBI LODR Regulation 44. Two resolutions were put to shareholders: (1) an Ordinary Resolution to increase the authorized share capital and amend the Memorandum of Association, and (2) a Special Resolution to issue equity shares to identified non-promoter persons/entities on a preferential basis, either for cash or by converting existing unsecured loans into equity. Of the 84,654 shareholders on record, only about 199 cast votes. Resolution 1 passed with 93.72% votes in favour (around 4.70 lakh shares) versus 6.28% against. Resolution 2 passed with 92.30% in favour (around 4.63 lakh shares) versus 7.70% against. Two corrigenda were issued during the voting period (July 4 and July 17) following NSE clarifications, and shareholders who had voted earlier were given a chance to re-vote, though none responded.
Both resolutions have been approved, which means the company can now raise its authorized share capital and move ahead with a preferential allotment of equity shares to specific non-promoter entities, potentially including conversion of unsecured loans into equity. For existing shareholders, this could lead to dilution of their stake depending on the size of the preferential issue and pricing terms, which have not been detailed here. Shareholders should watch for further disclosures on the actual allotment size, issue price, and identity of allottees.