Newspaper Publication for dispatch of Postal Ballot
PROSTARM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Prostarm Info Systems Ltd has published newspaper advertisements informing shareholders about a Postal Ballot Notice for three special resolutions. The resolutions include: (1) varying the utilisation of IPO proceeds by reallocating Rs 1,248.31 lakhs from inorganic growth/acquisitions to funding working capital requirements, (2) amending the ESOP 2024 for company employees, and (3) amending ESOP 2024 for subsidiary employees. The company states it could not identify suitable acquisition opportunities despite sustained efforts, and needs working capital to support expanding business operations. Remote e-voting opened on May 27, 2026 and closes on June 25, 2026.
Shareholders should vote on these resolutions as they affect IPO fund usage and employee stock option terms. The reallocation of IPO proceeds to working capital could improve liquidity and operational efficiency.