Sirca Paints India Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on August 05, 2025
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Sirca Paints India Limited held an Extraordinary General Meeting (EGM) on August 5, 2025, via video conferencing, where shareholders approved a Special Resolution to issue 20,11,000 equity shares on a preferential basis to certain identified non-promoter persons. The resolution was passed with overwhelming support, with 3,91,66,246 votes (99.9985%) in favour and only 602 votes (0.0015%) against, out of 3,91,66,848 total votes polled (71.46% of the total share base of approximately 5.48 crore shares). Promoter and promoter group, who hold about 67.55% of the company, were not interested in the agenda and voted in full favour. The Scrutinizer's Report was issued by Pravesh Kumar & Associates, confirming the resolution was passed with the requisite majority.
This preferential allotment will result in dilution of approximately 3.67% for existing shareholders as 20.11 lakh new shares are issued to non-promoter entities. The near-unanimous approval and lack of opposition suggest shareholders are comfortable with the capital raise, though investors should watch for further details on the issue price and identity of the allottees to assess the deal's value impact.