Notice of Postal Ballot and E-voting Instructions.
SHILCTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Shilchar Technologies has sent a Postal Ballot Notice to shareholders seeking approval for the issuance of bonus shares in the ratio of 1 new equity share for every 2 existing shares held. The company had reserves and surplus of Rs. 33,756.43 lakhs as on March 31, 2025, which will be capitalised to fund the bonus issue. The cut-off date for identifying eligible shareholders is April 18, 2025, and e-voting will run from April 23 to May 22, 2025. The new bonus shares will be issued only in demat form, and fractional entitlements will be aggregated and sold with proceeds distributed to eligible members. The company has appointed CDSL as the e-voting agency and CS Kashyap Shah as scrutiniser for the process.
If approved, existing shareholders will receive 1 additional share for every 2 they currently own, effectively a 50% increase in share count. The stock price is expected to adjust downward on the ex-date in line with the bonus ratio, while total shareholder value typically remains unchanged in the short term. The bonus reflects strong reserves and aims to improve liquidity and retail participation.