Popular Vehicles and Services Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
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Popular Vehicles and Services Limited has announced the results of a postal ballot conducted via remote e-voting from June 5 to July 4, 2025. Two special resolutions were put to vote: (1) disinvestment of shares in Vision Motors Private Limited, and (2) disinvestment of shares in Kuttukaran Green Private Limited. The promoter group, being interested parties, did not participate in the voting. Of the total 7.12 crore shares, around 1.41 crore shares (19.83%) were polled. Both resolutions were passed with overwhelming support — 99.96% of votes cast were in favour and just 0.04% were against each resolution. The Scrutinizer confirmed that votes in favour exceeded three times the votes against, meeting the special resolution threshold.
Shareholders have approved the disinvestment of two group entities (Vision Motors and Kuttukaran Green), clearing the way for the company to divest these stakes. The near-unanimous approval from non-promoter shareholders signals strong institutional and retail confidence in the restructuring decision. The actual financial impact will depend on the sale value and terms of these divestments, which have not been disclosed in this filing.