Shree Ram Twistex Limited has informed the Exchange regarding Notice of Postal Ballot
SRTL · price
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Shree Ram Twistex Limited, a cotton yarn manufacturer listed on BSE and NSE, is seeking shareholder approval via postal ballot to modify how it uses IPO funds raised in February 2026 (total ₹12,012.55 lakhs). The main change involves scaling down the wind power project from 4.2 MW (2 turbines of 2.1 MW each) to 3.1 MW (1 turbine), reducing that allocation from ₹3,900 lakhs to ₹2,511 lakhs. The freed-up ₹1,389 lakhs will be redirected toward new machinery for capacity expansion (₹525.74 lakhs for cotton twisting/winding equipment) and repayment of SBI bank outstanding loans (₹863.26 lakhs). Solar power project, borrowings repayment, and working capital allocations remain unchanged. The resolution requires approval from more than 90% of voting shareholders and voting period runs from May 1 to May 30, 2026.
The shift from a larger wind project to machinery expansion and debt repayment suggests the company prioritizes operational growth and deleveraging over renewable energy capacity. Shareholders should note the >90% approval threshold is unusually high and indicates potential promoter/existing investor alignment on this reallocation.