Attached herewith Outcome of Postal Ballot of Mangalam Industrial Finance Limited
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Mangalam Industrial Finance Limited conducted a postal ballot (through e-voting) to seek shareholder approval for increasing the Authorized Share Capital and altering the Memorandum of Association of the Company. The e-voting period ran from 19th June to 18th July 2025, and the resolution was passed with overwhelming majority of 99.93% votes in favour. Out of 96.16 crore outstanding shares, about 56.96 crore shares (59.23%) were polled, with promoters voting 100% in favour and public non-institutional holders voting 86.84% in favour. The Scrutinizer confirmed the resolution was passed with the requisite majority.
This is a procedural corporate housekeeping step that increases the company's authorized capital ceiling, giving the board room to issue more shares in the future (for fundraising, expansion, or other corporate actions). It does not by itself dilute existing shareholders or raise new capital, but it signals the company's readiness to potentially issue more equity down the line.