Parag Milk Foods Limited has submitted to the Exchange the Voting Results and a Scrutiniser's Report on voting conducted w.r.t. Extraordinary General Meeting held on May 03, 2025
PARAGMILK · price
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Parag Milk Foods held an Extra-Ordinary General Meeting (EGM) on May 3, 2025, via video conferencing, where shareholders voted on a special resolution to issue convertible warrants on a preferential basis. Out of 11.94 crore total outstanding shares, 6.12 crore shares (51.30% of total) were polled, with 99.9988% voting in favour and only 760 votes (0.0012%) against. Promoters and promoter group (interested party) polled 99.78% of their 5.08 crore shares, all in favour, while public institutions polled 47.51% and public non-institutions polled 3.53% of their respective holdings, both overwhelmingly in favour. The scrutinizer, Mr. Bhaskar Upadhyay of N.L. Bhatia & Associates, confirmed the resolution was passed with the requisite majority on May 5, 2025.
The approval clears the way for Parag Milk Foods to issue convertible warrants, which may result in equity dilution for existing shareholders once converted into shares, though no fresh shares are issued immediately. Promoter interest in the resolution suggests they are likely allottees, indicating promoter-led capital infusion or fundraising plans. Near-unanimous approval reflects strong shareholder backing, with limited near-term price disruption expected from the voting outcome itself.