Notice of Postal Ballot is enclosed.
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Awaiting price reaction for this filing.
NHC Foods has sent a Postal Ballot Notice to shareholders seeking approval for two special resolutions. The first resolution authorises the Board to raise funds up to USD 27 million (or its rupee equivalent) through Qualified Institutions Placement (QIP), Foreign Currency Convertible Bonds (FCCBs), ADRs/GDRs, preferential issue, or other permissible modes, in one or more tranches. For QIP, the floor price discount is capped at 10% as per SEBI ICDR rules. The second resolution seeks to enhance limits under Section 180(1)(a) of the Companies Act, 2013, allowing the Board to pledge, mortgage, or otherwise encumber company assets up to Rs. 500 crore to secure borrowings. E-voting runs from February 18, 2026 to March 19, 2026, with the cut-off date set as February 13, 2026. The funds are intended to support expansion in domestic and overseas food-processing markets and enable strategic acquisitions.
Shareholders are being asked to approve a potentially significant equity dilution and increased pledging of company assets to raise up to USD 27 million. If passed, this gives the Board wide discretion to issue securities at a discount of up to 10% on the floor price, which could pressure the stock price. However, the funds may support business expansion and growth, which could benefit long-term shareholders if execution is successful.