Servotech Renewable Power System Limited has informed the Exchange regarding Notice of Postal Ballot
SERVOTECH · price
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Servotech Renewable Power System has issued a Postal Ballot Notice dated 1st July 2025 seeking shareholder approval through remote e-voting for five special resolutions. The resolutions include the regularization of three directors: Mr. Girish Kumar Ahuja (Non-Executive Independent Director, 5-year term), Mr. Digvijay Kapoor (Executive Director - HR, 3-year term till June 2028), and Dr. Yogita Patra (Non-Executive Woman Independent Director, 5-year term). Additionally, the company is seeking shareholder approval to raise its borrowing and charge creation limits to Rs. 600 crores each, superseding the previous limits approved via postal ballot in April 2024. E-voting will run from 2nd July 2025 (9:00 AM) to 31st July 2025 (5:00 PM), with results to be declared by 2nd August 2025. The cut-off date for determining voting rights is 27th June 2025.
The director appointments are largely routine and signal board strengthening, including compliance with gender diversity through the appointment of a woman independent director. The Rs. 600 crore borrowing limit (up from earlier limits) suggests the company may be preparing for significant future debt-raising, potentially for capacity expansion or working capital, which shareholders should monitor as it could lead to higher interest costs and dilution of equity if debt converts.