Laxmi Dental Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
LAXMIDENTL · price
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Laxmi Dental Limited has announced the results of a postal ballot conducted via remote e-voting between April 18 and May 17, 2025, seeking shareholder approval to ratify its Employee Stock Option Scheme 2024 (ESOP 2024). The special resolution was passed with 82.36% of votes cast in favour (4.04 crore shares) and 17.64% against (86.4 lakh shares), on a strong turnout of 89.16% of total shares. Promoters and promoter group voted 100% in favour (2.29 crore shares), while public non-institutional shareholders were nearly unanimous in support at 99.9989%. However, public institutions (likely mutual funds and FPIs) voted overwhelmingly against the resolution, with 83.47% of their polled shares in opposition. The scrutinizer, M/s M. Jawadwala & Co., has confirmed the resolution is validly passed.
The ESOP 2024 has now received the required shareholder ratification, allowing the company to proceed with granting stock options to employees. However, the significant dissent from public institutional investors (over 83% voting against) is a noteworthy red flag that may reflect concerns around dilution, scheme terms, or governance, and could weigh on near-term institutional sentiment toward the stock.