Outcome of postal Ballot and Disclosure of Voting Results along with Scrutinizers Report
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Awaiting price reaction for this filing.
Hari Govind International Ltd announced that all six special/ordinary resolutions put to a postal ballot have been passed with 100% approval (43,35,900 shares voted in favour, zero against), representing 86.72% of the 50,00,000 outstanding shares. Key items passed include adoption of a new Memorandum of Association that broadens the company's objects into baby care products (readymade garments, baby food, toys, hygiene products), doubling of authorised equity share capital from ₹5.25 crore to ₹10.25 crore, and a preferential allotment of 37,75,000 equity shares at ₹10 each (aggregating ₹3.78 crore) to a mix of new proposed promoters (Shaju Thomas and Linta P Jose) and 12 non-promoter investors. Three directors — Mr. Reveesh Moolamkuzhiyil Varghese and Mr. Rishin Rasheed as Independent Directors, and Mr. Aneesh Kumar K Kuniyil as Whole-Time Director — were also regularized for 5-year terms. The voting window ran from 15 May to 13 June 2025, with results declared on 17 June 2025.
This filing signals a likely change of control and business pivot toward the baby care segment, with new promoters taking stakes and existing public shareholders (who all voted in favour) greenlighting the shift. Existing shareholders will see dilution of roughly 7.5% (37.75 lakh new shares vs. 50 lakh existing) once allotted, and should watch for further announcements on the company's new business direction.