Announced Fri, 26 Jun · 12:07 IST
Postal ballot: 3 resolutions passed, including IPO fund reallocation
Capital Market Events View source PDF
PROSTARM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-1.9%1-day move
₹139.18
prior close
₹139.60
base price
After-mkt
timing
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AI summary
Prostarm Info Systems shareholders approved all 3 special resolutions via postal ballot with over 99.99 percent support. Key items: changing the stated purpose of IPO funds, and amending the ESOP 2024 plan for employees of the company and its subsidiaries. About 4.29 crore votes were polled out of 5.89 crore shares (around 73 percent turnout). Promoters backed all resolutions fully.
Likely market impact
Reallocating IPO funds may concern investors as it deviates from the original stated use. ESOP amendments could lead to future dilution for existing shareholders.