Notice of Postal Ballot dated November 05, 2025
Awaiting price reaction for this filing.
Mahan Industries Ltd, an NBFC registered in Ahmedabad, has issued a postal ballot notice dated November 5, 2025 seeking shareholder approval on three items. Item 1 is an Ordinary Resolution to increase the authorised share capital from ₹37.30 crore (3.73 crore equity shares of ₹10 each) to ₹60 crore (6 crore equity shares of ₹10 each), creating 2.27 crore new equity shares. Items 2 and 3 are Special Resolutions to appoint Mr. Nishil Sanjaykumar Shah (DIN: 09165405) and Mr. Niranjan Navratanmal Jain (DIN: 00282842) as Executive Directors; both appointments have prior RBI approval dated July 25, 2025 since the company is an NBFC. Voting is through remote e-voting only via NSDL from November 16, 2025 (9:00 IST) to December 15, 2025 (17:00 IST), with the October 31, 2025 cut-off date determining eligible shareholders. Results will be declared within two working days of the voting conclusion.
The authorised capital increase signals room for future fundraising or share issuance, which could lead to dilution for existing shareholders down the line. The two new executive director appointments strengthen the management bench and have already cleared RBI scrutiny, reducing approval risk for shareholders. With routine procedural items, the resolutions are likely to pass, but investors should watch for any future fundraising announcement tied to the expanded share capital.