Spandana Sphoorty Financial Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
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Awaiting price reaction for this filing.
Spandana Sphoorty Financial Limited conducted a postal ballot via remote e-voting (June 9 to July 8, 2025) seeking shareholder approval for related party transactions with Criss Financial Limited for FY 2025-26. Of the 1,29,954 shareholders on record date, 489 members cast votes, with only 8.56% of outstanding shares participating. The resolution passed with 96.43% votes in favour (58,88,597 votes) against 3.57% votes against (2,18,008 votes). Notably, the promoter and promoter group (holding 3,43,16,467 shares, ~48% of outstanding) did not cast any vote as they are an interested party in the transaction, and 2,99,40,255 related party votes were excluded from the count. While institutional investors strongly supported the resolution (96.84% in favour), retail non-institutional shareholders showed meaningful dissent, with 30.95% voting against.
The approval allows Spandana to proceed with related party transactions with Criss Financial Limited for FY 2025-26, providing operational flexibility. However, the significant retail dissent (~31% of public non-institutions voted against) signals some minority shareholder discomfort with the related party deal, which is worth monitoring for governance concerns.