Authenticated Copy of Postal Ballot Notice dated 20.05.2026 is attached prior to dispatch to shareholders
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Rasi Electrodes Ltd is seeking shareholder approval via postal ballot to sell a vacant land property measuring 227.7 cents (2.277 acres) located at Manjankaranai Village, Uthukottai Taluk, Tiruvallur District, Tamil Nadu. The property was acquired in 2015 for potential expansion but is now deemed unsuitable. The book value is Rs. 244.66 lakhs, while a registered valuer has estimated market value at Rs. 150.28 lakhs. The company proposes to sell it for not less than Rs. 285 lakhs to encash value and free up funds for business operations. Voting period runs from May 27, 2026 to June 27, 2026, with results expected by June 29, 2026.
If approved, the sale will generate at least Rs. 285 lakhs for the company, potentially improving liquidity and working capital. However, selling land below book value (Rs. 244.66 lakhs) but above valuation could result in a marginal gain or loss depending on final negotiated price. The property was originally acquired for expansion purposes, so its sale may indicate a shift in growth strategy.