MBL Infrastructure Limited has informed the Exchange regarding Notice of Postal Ballot
MBLINFRA · price
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MBL Infrastructure Limited has issued a Postal Ballot Notice seeking shareholder approval for two special resolutions. First, the re-appointment of Mr. Ram Dayal Modi as an Independent Director for a second term of 5 years from May 13, 2026 to May 12, 2031. Mr. Modi has over four decades of experience in Banking and Financial Services with SBI Group. Second, the company is seeking approval to raise funds up to Rs. 300 Crores through various securities including equity shares, GDRs, ADRs, foreign currency convertible bonds, and convertible debentures via QIP, private placement, or public issue. The funds will be used for capital expenditure, working capital requirements, repayment of resolution plan debts, subsidiary company resolutions, and general corporate purposes. Remote e-voting runs from April 16, 2026 to May 15, 2026.
Shareholders should vote on these resolutions. The director re-appointment maintains board continuity with experienced governance. The securities issuance approval gives the company flexibility to raise capital when needed, which could be dilutive to existing shareholders depending on pricing and amount actually raised.