MM Forgings Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
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MM Forgings Limited has announced the results of its postal ballot held through remote e-voting. Shareholders approved two special resolutions with overwhelming majority. First, an increase in authorized share capital from Rs 51 crore to Rs 61 crore, enabling issuance of 1 crore additional equity shares of Rs 10 each. Second, approval to raise funds up to Rs 600 crore through issuance of equity shares and/or other securities in one or more tranches. Resolution 1 was passed unanimously with 100% votes in favor, while Resolution 2 was passed with 97.84% votes in favor and 2.16% against. The voting took place from March 31 to April 29, 2026, with a record date of March 27, 2026.
The authorized capital increase and fund-raising approval open the door for future equity dilution. The Rs 600 crore fundraising could be through rights issue, qualified institutions placement (QIP), or other securities, potentially affecting EPS and existing shareholder value depending on pricing and structure.