Submission of Scrutinizer''s report on Postal Ballot Voting results
Awaiting price reaction for this filing.
Gopal Iron and Steels Company (Gujarat) Limited conducted a postal ballot (e-voting from March 7 to April 5, 2026) with 8,391 shareholders on record. All 13 resolutions were passed with overwhelming majority (over 99.98% in favor for all). Key resolutions include: adopting new MOA and AOA per Companies Act 2013; altering the Main Object Clause of MOA; changing the company name; shifting registered office within Gujarat; increasing authorized share capital; appointing 4 new directors including Nirav Thakkar as Managing Director; and increasing borrowing limits under Section 180(1)(c) and Section 186. Total voter turnout was 19.73% (969,897 votes out of 4,917,100 shares). Public non-institutions drove voting while no institutional votes were cast.
The company has obtained shareholder approval for significant governance changes including a name change, constitutional document updates, expanded borrowing powers, and new board appointments. This indicates management is restructuring the company and preparing for potential growth or new business directions. The near-unanimous approval suggests shareholder confidence in the management's plans.