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SMIFS Capital Markets Limited has successfully passed a Special Resolution through postal ballot to change the name of the company and amend its Memorandum and Articles of Association. The e-voting window ran from March 11, 2025 to April 9, 2025, with 3,641 shareholders on record. Promoter group voted 100% in favour, representing 30,64,051 shares. Public non-institutional shareholders showed weak participation at just 4.48% (89,451 votes polled), with 68.87% voting against and only 31.13% in favour. The Scrutinizer, Sudhansu Sekhar Panigrahi (Practicing Company Secretary), confirmed the resolution was carried with the requisite majority. Chairman Utsav Parekh countersigned the result on April 10, 2025.
The approved name change is now awaiting formal regulatory and Registrar of Companies approval before taking effect. Shareholders should expect a new company name on future filings, potentially a revised BSE/NSE symbol, and updated MoA/AoA. The strong dissent from public retail shareholders (nearly 69% voted against) signals mild governance friction but does not block the change since promoters hold a decisive majority.