Prudential Sugar Corporation Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on Jun 28, 2025
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Prudential Sugar Corporation Limited held an Extraordinary General Meeting (EGM) on June 28, 2025 via video conferencing, which ran for about 27 minutes (12:30 PM to 12:57 PM) with 44 members present. The key item on the agenda was a Special Resolution seeking shareholder approval to change the 'Objects of the Issue' for a proposed preferential allotment of 1,25,00,000 (1.25 crore) equity shares to non-promoter persons. The change was made at BSE's direction to clearly disclose that the funds raised through this preferential issue will be used for business growth, investments in subsidiaries, expansion into diverse areas including a Green Energy venture as a greenfield project, and general corporate purposes. The Chairman noted the company's 34 years of growth and thanked shareholders. Voting results will be submitted separately by the Scrutinizer, Mrs. Ekta Goswami, within the prescribed timeline.
Shareholders are being asked to approve a revision in how funds from the upcoming preferential equity issue will be utilised, with a notable new emphasis on entering the Green Energy sector. The actual voting outcome is still pending and will be disclosed in a separate filing, which could influence sentiment around the fundraising and the company's diversification plans.