Sri Lotus Developers and Realty Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
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Sri Lotus Developers and Realty Limited has filed the voting results of its Postal Ballot (remote e-voting) conducted between February 26 and March 27, 2026. A single Special Resolution was put to vote, seeking ratification of extending the benefits of the ESOP 2024 scheme to eligible employees of the company's subsidiaries and/or associate companies. Out of 488,723,710 total outstanding shares, 410,276,231 shares (83.95%) were polled, with 98.23% voting in favour and just 1.77% against, comfortably clearing the three-quarters threshold needed for a special resolution. Promoters (holding ~400 million shares) voted 100% in favour, while public institutional shareholders showed notable dissent, with about 71% of their polled votes against the resolution. Public non-institutional shareholders were also split, with roughly 51% voting against. The resolution has been declared passed by the Scrutinizer, CS Mannish L. Ghia of M/s. Manish Ghia & Associates.
The resolution has cleared, paving the way for ESOP 2024 benefits to be extended to employees of subsidiaries and associate companies, which could lead to further equity dilution for existing shareholders over time. Despite the comfortable overall majority, the visible pushback from institutional and non-institutional public shareholders may be worth monitoring as a sentiment signal regarding the company's expansion of employee compensation programmes.