Submission of Voting Results under Regulation 44(3) of SEBI(LODR) Regulations, 2015 and Scrutinizer Report.
Awaiting price reaction for this filing.
Golkonda Aluminium Extrusions held its 37th AGM on August 25, 2025 via video conferencing, where all 8 resolutions were passed with overwhelming majority (99.96% in favour). The meeting lasted just 28 minutes (1:07 PM to 1:35 PM), and only 36 public shareholders attended virtually, with no promoter participation. Critically, shareholders approved the issuance of up to 1,56,75,87,748 equity shares (approximately 156.76 crore shares) on a preferential basis to non-promoter entities upon conversion of outstanding unsecured loans — a massive potential dilution against the existing 52.69 lakh share base. Other key approvals include increasing the authorised share capital, amending the MoA's object clause, amendments to loan agreements, re-appointment of Managing Director Geeta Sethi, and appointment of new statutory and secretarial auditors. Voter turnout was very low, with only 70,607 shares (1.34% of outstanding shares) participating in the e-voting.
The preferential allotment of up to ~156.76 crore shares for loan conversion represents extreme dilution risk — existing shareholders' stakes could be reduced to a tiny fraction of the expanded equity base. Combined with the authorised capital increase and MoA object clause amendment, this signals a major restructuring. Very low voting turnout (1.34%) means these transformative decisions were approved by a small minority of the shareholder base.