Board approves postal ballot for deviation in IPO proceeds use

Fund Raising View source PDF Explain this filing

NITIRAJ · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-1.7%Reaction day

₹188.97

prior close

—

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+2.6%-4.3% vs market

Other Electrical Equipment peers, median of 46sector+2.1%-3.8% vs sector

On the reaction day the stock moved 4.3 pts less than Nifty Microcap 250 and 3.8 pts less than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

—

10m

—

15m

—

30m

—

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.7+2.6-4.3+2.1-3.8

Next day

-3.6+3.6-7.2+3.2-6.8

-2.6+3.1-5.7+2.9-5.5

-4.2+2.6-6.8+4.1-8.3

-4.5+1.1-5.5+1.7-6.2

-2.1+0.3-2.4+0.7-2.8

-1.0+1.6-2.6+2.8-3.9

15d

+8.0-3.9+11.9-6.1+14.0

+16.9-8.1+25.1-8.9+25.9

+12.7-3.1+15.8+1.6+11.2

+6.7+9.2-2.5+19.9-13.2

UpDownMarket · Nifty Microcap 250Sector · Other Electrical Equipment peers, median of 46Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Nitiraj Engineers board met on Feb 6, 2026 and approved a Postal Ballot Notice seeking shareholder approval for deviation or variation in the utilization of proceeds from its public issue, including approval of proposed deviation of unutilized issue expenses. Also appointed CA Yash Goyal as Scrutinizer for the postal ballot voting process. Shareholders will get to vote on whether the company can reallocate or vary the use of its IPO funds.

Likely market impact

Shareholders will vote on allowing the company to change how IPO funds were used, which may raise governance concerns but does not change shareholding.