Pashupati Cotspin Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results in respect of the resolution contained in the Postal Ballot Notice dated 7th April, 2025.
PASHUPATI · price
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Pashupati Cotspin Limited has announced the results of a postal ballot conducted between April 9 and May 8, 2025, with both special resolutions passed by shareholders. Resolution 1 approved the migration of the company's equity shares from the NSE Emerge (SME) platform to the Main Board of both NSE and BSE, with 40,400 votes (100%) cast in favor by 30 public non-institutional shareholders. Resolution 2 approved the appointment of Mr. Ripple Jamnadas Patel (DIN: 00578651) as an Independent Director for a five-year term, with 7,419,000 votes (100%) cast in favor. Promoters did not vote on the migration resolution, as required under SEBI's ICDR Regulation 277 for SME-to-main-board migrations. The company had 1,065 shareholders on record as of the April 4, 2025 cut-off date, and the scrutinizer confirmed the process was fair and transparent.
The approval to migrate from NSE Emerge to the main boards of NSE and BSE is a significant positive development, as it can improve stock visibility, liquidity, and attract a broader set of institutional investors. However, no immediate price catalyst is expected since the actual migration is still subject to exchange and SEBI approvals.