Submission of Postal Ballot Notice
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Awaiting price reaction for this filing.
Shraddha Prime Projects Ltd has submitted a postal ballot notice to BSE seeking shareholder approval for two items via e-voting (January 20 to February 18, 2026). Item 1 proposes increasing the Authorised Share Capital from ₹45 crore (4.5 crore equity shares of ₹10) to ₹65 crore (6.5 crore equity shares of ₹10), creating room for an additional 2 crore shares — the company says this is to enable future fund-raising, including a possible bonus or rights issue. Item 2 seeks shareholder approval to regularise the appointment of Mr. Ashok Uttam Chandanshive (DIN: 11038160), a Chartered Accountant and Lawyer, as a Non-Executive Independent Director for a 5-year term from January 14, 2026 to January 13, 2031. Results will be declared on or before February 20, 2026.
The authorised capital hike is a preparatory step and does not dilute shareholders by itself, but it signals that a fundraising (bonus, rights, or preferential issue) could be on the horizon. The new independent director brings finance, taxation and corporate law expertise to the board, which is a routine governance strengthening move.