Manaksia Steels Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
MANAKSTEEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Manaksia Steels Limited has informed the exchanges of the results of a Postal Ballot conducted via remote e-voting from 13 February to 14 March 2026. Shareholders approved all four ordinary resolutions seeking approval for material related party transactions for FY 2026-27 with four related parties: MINL Limited, Manaksia Limited, Sumo Steels Limited, and Manaksia Ferro Industries Limited. Each resolution passed with around 99.59% of votes in favour and only about 0.41% against. Notably, the promoter and promoter group (holding about 74.7% of shares) did not vote on these resolutions as they are related parties, and only public non-institutional shareholders participated. Total voting turnout was low, with about 2.06 million votes polled out of roughly 6.55 crore outstanding shares (around 3.14%).
This is largely a procedural clearance for related party transactions with group companies. No direct impact on minority shareholders' economics is expected, though the low voting turnout (promoters abstained) means the approvals effectively came from a small slice of the public shareholder base.