RACL Geartech Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on May 07, 2025. Further, the company has informed the Exchange regarding voting results.
RACLGEAR · price
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RACL Geartech Limited held an Extraordinary General Meeting on May 7, 2025, where two special resolutions were approved by shareholders. Resolution 1, to issue 830,711 equity shares on a preferential basis to certain qualified institutional buyers (non-promoter category), was passed with 99.99% votes in favour (5,083,897 shares in favour vs 7 against). Resolution 2, to issue 175,769 equity shares on a preferential basis to certain non-qualified institutional buyers (non-promoter category), was passed with 93.17% votes in favour (4,736,675 shares in favour vs 347,229 against). A total of 5,083,904 votes were polled, representing 47.15% of the company's 10,781,600 outstanding shares. Promoter and Promoter Group voted 100% in favour of both resolutions. The Scrutinizer's Report from Rosy Jaiswal & Associates confirmed the results on May 9, 2025.
The company has secured shareholder approval to issue over 1 million equity shares to institutional investors, which will dilute existing shareholders' stakes slightly but bring in fresh capital. The near-unanimous promoter and public support suggests strong alignment on the company's capital-raising plans.