Safari Industries (India) Limited has informed the Exchange regarding Notice of Postal Ballot
SAFARI · price
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Safari Industries has issued a Postal Ballot Notice seeking shareholder approval via remote e-voting for two special resolutions. The first item seeks approval to re-appoint Mr. Sudhir Jatia (DIN 00031969) as Managing Director for a second 5-year term from April 18, 2026 to April 17, 2031, with a proposed basic salary of Rs. 13.65 lakh per month and total remuneration capped at 5% of net profits. The second item seeks approval to raise up to Rs. 500 crore through a Qualified Institutions Placement (QIP) of equity shares at a price determined as per SEBI ICDR Regulations. E-voting runs from February 17, 2026 to March 18, 2026, with results expected by March 20, 2026.
The Rs. 500 crore QIP could lead to meaningful equity dilution for existing shareholders depending on the issue price and demand. Mr. Jatia, who holds 44.70% of paid-up capital and drew Rs. 2.81 crore in FY25, getting another 5-year term signals leadership continuity but also concentrates voting power with the promoter. Investors should weigh fund-raise dilution against growth plans.