Prism Johnson Limited has informed the Exchange regarding Notice of Postal Ballot
PRSMJOHNSN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Prism Johnson Limited has issued a postal ballot notice seeking shareholder approval through remote e-voting for three resolutions. The first and most material item is the divestment of the company's entire 51% stake in Raheja QBE General Insurance Company Limited (RQBE), a material unlisted subsidiary and joint venture with Australia's QBE Group, to QBE Holdings (AAP) Pty Limited for an aggregate consideration of ₹324 Crores (subject to adjustments). RQBE has been consistently loss-making, with a pre-tax loss of ₹33.06 Crores in 9M FY26 and ₹45.34 Crores in FY25. Proceeds will primarily be used for debt repayment. The second and third resolutions seek approval for the appointment of Mr. Sanjaykumar Shivajee Roy (57, 33 years of RMC industry experience, ex-ACC/Aparna Enterprises) as Director and as Whole-time Director designated as Executive Director & CEO (RMC) for three years from March 2, 2026, with annual remuneration capped at ₹3.57 Crores. The fair market value of RQBE has been independently estimated at ₹551.84 Crores. E-voting runs from March 19, 2026 to April 17, 2026, with the cut-off date being March 13, 2026.
The divestment removes a chronic loss-making subsidiary, simplifies the group structure focused on cement, tiles, bath fittings and RMC, and brings in ₹324 Crores for debt reduction – likely positive for the balance sheet and shareholder value. The director and CEO-RMC appointments are largely governance items; the ~3.3x jump in remuneration versus his prior pay (₹1.07 Crores) is notable but tied to the expanded role. Overall, the stock may react positively to the strategic exit and deleveraging signal, contingent on shareholder approval.