Macrotech Developers Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
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Macrotech Developers Limited announced the results of its postal ballot conducted via remote e-voting from May 2 to May 31, 2025, on a special resolution to change the company's name to 'Lodha Developers Limited' and amend its Memorandum and Articles of Association. Out of 99,76,36,780 outstanding shares, 94,52,50,610 shares (94.75%) were polled, with 99.9987% voting in favour and only 0.0013% against. Promoters (71.76 crore shares) voted 100% in favour, institutional public shareholders voted 99.995% in favour, and non-institutional public shareholders voted 99.36% in favour. The special resolution was passed with the requisite majority, and the result is deemed effective from May 31, 2025.
The name change to 'Lodha Developers Limited' aligns the company's legal name with its widely recognised consumer-facing 'Lodha' brand, which should have no material financial impact on shareholders. With near-unanimous shareholder approval, the change is expected to be implemented smoothly, potentially improving brand recall and marketing consistency.