Scrutinizers Report cum Outcome of Postal Ballot
Awaiting price reaction for this filing.
Muthoot Finance Limited announced the results of a postal ballot conducted between April 30 and May 29, 2025. Two special resolutions were passed with overwhelming majority. The first was the appointment of Mr. George Joseph (DIN: 00253754) as a Non-Executive Independent Director, approved with 99.96% votes in favor (only 0.04% dissent). The second was increasing the Board's borrowing power under Section 180(1)(c) of the Companies Act, 2013 to Rs. 2 Lakh Crores, approved with 99.56% votes in favor. Total paid-up share capital stood at Rs. 401.46 crores (40,14,63,891 equity shares of Rs. 10 each), with promoter group holding about 73.4% of shares and voting 100% in favor of both resolutions.
Both resolutions received strong shareholder backing, including full support from the promoter group and near-unanimous approval from public institutions and non-institutions. The approval to raise borrowing limits to Rs. 2 Lakh Crores gives the company significantly more headroom for future fundraising, which could support business expansion. Shareholders are unlikely to see any negative price reaction given the routine nature and high approval margins.