Manorama Industries Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
MANORAMA · price
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Manorama Industries Limited has announced the results of a postal ballot where shareholders approved a Special Resolution to raise funds up to INR 500 crore through qualified institutions placement or other permissible modes by issuing securities. The e-voting took place from March 21, 2026 to April 19, 2026, with a cut-off date of March 13, 2026. Out of 41,250,653 valid votes cast, 41,177,725 votes (99.82%) were in favor and 72,928 votes (0.18%) were against. The resolution was passed as required since favorable votes exceeded three times the opposing votes. The scrutinizer's report was issued by M/s. Mehta & Mehta, Company Secretaries.
Shareholders have authorized the company to raise up to INR 500 crore in capital, which could be used for expansion, debt repayment, or working capital. The near-unanimous approval signals strong shareholder confidence and may positively impact the stock if the fund raise is executed.