Pursuant to Regulation 30 and 44(3) of SEBI LODR Regulation 2015, attached herewith is the Outcome of the Postal Ballot
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Shiva Cement Limited conducted a postal ballot via remote e-voting from April 24 to May 23, 2025, seeking shareholder approval for two ordinary resolutions related to transactions with its parent JSW Cement Limited. Resolution 1 approved a Material Related Party Transaction with JSW Cement, passing with 84.61% votes in favour (4,77,482 shares for vs 86,836 against). Resolution 2 approved an Intercorporate Loan from JSW Cement, also passing with 84.63% votes in favour (4,77,981 shares for vs 86,839 against). The promoter and promoter group (holding ~66.4% of shares, i.e., 19.6 crore shares) abstained from voting on both resolutions as required under SEBI LODR Regulation 23(4), since they are related parties. Total shareholder turnout was very low at 0.19% of outstanding shares (about 5.6 lakh shares polled out of 29.5 crore).
Both resolutions have been approved, clearing the way for Shiva Cement to enter into material related party transactions and accept an intercorporate loan from its parent JSW Cement Limited. For minority public shareholders, this means deeper financial involvement from the parent company, which could support growth funding but also increases dependence on the promoter group.