Submission of Voting Results of Postal Ballot and Scrutinizer''s Report under Regulation 44 of the SEBI (LODR) Regulations, 2015
Awaiting price reaction for this filing.
Hindusthan Urban Infrastructure Limited has secured shareholder approval via postal ballot to sell the shares of its material subsidiary, Hindusthan Speciality Chemicals Limited. Voting ran from June 20 to July 19, 2025, with 74.68% of outstanding shares participating. Of those who voted, 99.98% (10,77,387 shares) were in favour and just 221 shares (0.02%) were against, passing the resolution as a Special Resolution. The scrutinizer, Mr. Neeraj Sharma, submitted his report on July 21, 2025. No promoter or promoter group member was interested in the resolution.
Shareholders have cleared the way for the company to divest a material subsidiary, which could unlock cash but narrows the group's business footprint. Investors should watch for the next announcement detailing sale terms, buyer, and use of proceeds.