Shyam Century Ferrous Limited has informed the Exchange regarding Notice of Postal Ballot
SHYAMCENT · price
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Awaiting price reaction for this filing.
Shyam Century Ferrous Limited has sent a Postal Ballot notice to shareholders seeking their approval to sell, lease, or otherwise dispose of the whole or substantially the whole of the company's assets, including plant and machinery, equipment, and manufacturing rights. The company, which manufactures ferro silicon at a plant in Meghalaya, shut down operations at the facility on 7th May 2025 after sustained increases in power and raw material costs made the business financially unviable. The Board, at its meeting on 7th January 2026, decided that reviving the plant is not economically feasible and that the assets are deteriorating due to prolonged idleness. Shareholders will vote through NSDL's remote e-voting platform between 11th January 2026 and 9th February 2026, with results to be declared by 11th February 2026. The resolution requires approval as a Special Resolution under Section 180(1)(a) of the Companies Act, 2013, and also needs a majority of public shareholders voting in favour.
This is a major development for shareholders — the company is seeking to divest its core manufacturing assets after already halting production in May 2025. If approved, the proceeds could be used to pay running expenses, make investments, or potentially fund dividends or buybacks, which may offer some value to shareholders. However, the business outlook has clearly weakened, and the stock could see pressure depending on the terms of any eventual sale.