Attached herewith Scrutinizer Report and Voting Results of Postal Ballot of Mangalam Industrial Finance Limited
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mangalam Industrial Finance Ltd conducted a Postal Ballot (notice dated 16th June 2025) to seek shareholder approval for increasing the authorized share capital and altering the Memorandum of Association. Voting was open from 19th June to 18th July 2025 through remote e-voting. Out of 96.16 crore total outstanding shares, 56.96 crore shares (59.23%) were polled, with 99.93% voting in favour and only 0.07% (3.71 lakh shares from 27 members) against. Promoter group voted 100% in favour (56.68 crore shares), while public non-institutions voted 86.83% in favour and 13.16% against. The ordinary resolution was passed with requisite majority.
The approved increase in authorized share capital gives the company flexibility to potentially issue more shares in the future for fundraising, expansion, or stock splits. It does not dilute existing shareholders immediately but could enable future capital actions. The overwhelming approval (99.93%) signals strong shareholder confidence in management's plans.