Pavna Industries Limited has informed the Exchange with copy of Scrutinizer's Report.
PAVNAIND · price
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Pavna Industries Limited held an Extra-Ordinary General Meeting on May 5, 2025, where shareholders approved a special resolution to raise up to Rs. 320 crore through the issuance of equity shares to Qualified Institutional Buyers (QIBs). The resolution was passed with overwhelming support — 61 members holding 94,43,615 shares (99.99%) voted in favor, while only 2 members with 2 shares (0.00002%) voted against. The e-voting was conducted via NSDL between May 2 and May 4, 2025, with the cut-off date being April 28, 2025. The Scrutinizer confirmed the resolution was passed with the requisite special majority under the Companies Act, 2013.
The QIP approval clears the way for the company to raise up to Rs. 320 crore from institutional investors, which may lead to equity dilution for existing shareholders. The near-unanimous approval suggests strong shareholder confidence in the fundraise plan.