MANAKCOAT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Manaksia Coated Metals & Industries announced the results of its Postal Ballot conducted via remote e-voting from October 29 to November 27, 2025. Two special resolutions were passed with overwhelming shareholder approval (over 99.99% in favor in both cases). Resolution 1 approved an increase in the company's Authorized Share Capital and corresponding amendment to the Memorandum of Association. Resolution 2 authorized the company to raise capital by issuing equity shares and/or equity-linked securities through Private Offerings, Qualified Institutions Placements (QIPs), or any other permitted method. Voting was nearly unanimous, with only 15 members voting against Resolution 1 and 14 against Resolution 2. The scrutinizer's report was submitted by Mr. S. Sarweswara Reddy of S.S. Reddy & Associates.
Shareholders have cleared the way for the company to expand its Authorized Share Capital and potentially raise fresh equity capital through QIP or private placements. This could lead to equity dilution in the future if the capital raise is executed, though no specific size, timing, or pricing has been disclosed yet.