Outcome of Postal Ballot and disclosure of Voting Results along with Scrutinizers Report.
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Hari Govind International Limited (BSE: 531971) announced results of a postal ballot (e-voting held May 15 – June 13, 2025) where all six resolutions were passed with 100% votes in favour (43,35,900 shares of 50,00,000 voted; 86.72% participation, zero dissent). Key approvals include: (1) adopting a new Memorandum of Association with a fresh main-object clause covering readymade garments, baby food, health drinks, beverages, toys, toiletries and hygiene products; (2) increasing authorised equity share capital from ₹5.25 crore to ₹10.25 crore by adding 50 lakh equity shares of ₹10 each; (3) issuing 37,75,000 equity shares on a preferential basis at ₹10 per share, aggregating ₹3.775 crore, to proposed promoters (Shaju Thomas – 10 lakh shares, Linta P Jose – 5 lakh shares) and 12 non-promoter allottees; and (4–6) regularising the appointments of Mr Reveesh Moolamkuzhiyil Varghese and Mr Rishin Rasheed as Independent Directors and Mr Aneesh Kumar K Kuniyil as Whole-Time Director, all for five-year terms effective May 14, 2025. The company noted that the new object clause and the preferential issue together point to a strategic pivot toward the baby-care and consumer-products segment.
Shareholders should note a near-term dilution of roughly 43% on a fully expanded basis from the preferential allotment at ₹10 per share, alongside a likely shift in the company's business focus toward baby care and consumer goods. With 100% shareholder approval and no dissent, the resolutions are now effective and the board can proceed with allotments and MOA amendments.