Postal Ballot Result with scrutinizers report
SHIVAMAUTO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Shivam Autotech announced the results of a postal ballot (voting held December 2–31, 2025), where shareholders approved all 5 special resolutions with over 99.93% votes in favour. The resolutions cover: (1) issuance of unlisted, secured, redeemable, optionally convertible debentures (OCDs) on a preferential basis, (2) granting special rights to Alpha Alternative Structured Credit Opportunities Fund under the OCD subscription agreement, (3) amendment to the Articles of Association, and (4) & (5) board approvals under Section 180(1)(A) and 180(1)(C) of the Companies Act, allowing the company to sell/lease assets and borrow larger sums. Of the 13.15 crore total shares, ~9.15 crore (69.6%) voted; promoters (9.14 crore shares) voted 100% in favour, while public non-institutional shareholders were split roughly 52% in favour vs 48% against.
Shareholders should watch for potential equity dilution if the OCDs are converted into shares, and note that a specific fund (Alpha Alternative Structured Credit Opportunities Fund) is receiving special rights tied to the instrument. The borrowing and asset-sale powers give the board significantly more financial flexibility, which can be positive or negative depending on how the capital is deployed.