Submitting herewith copy of the Postal Ballot Notice
Awaiting price reaction for this filing.
Filtron Engineers has sent a Postal Ballot Notice (e-voting from Aug 28 to Sep 26, 2025) seeking shareholder approval for four items. First, an Ordinary Resolution to increase authorised share capital from Rs. 3.5 crore to Rs. 85 crore (6.55 crore equity shares + 1.95 crore preference shares of Rs. 10 each). Second, issue of 4.5 crore equity shares at Rs. 10 per share (at par), worth Rs. 45 crore, to two non-promoters — Tarak Gor and Jayesh Rawal — on a swap basis for acquiring Gabrielle Infra Speciality Pvt Ltd (GISPL); these allottees will become promoters post-allotment. Third, issue of 1.92 crore 0.5% Non-Convertible Compulsorily Redeemable Preference Shares (NCCRPS) at par, worth Rs. 19.21 crore, redeemable within 7 years, also on a swap basis for the GISPL acquisition. Fourth, a cash preferential issue of 1.59 crore equity shares at Rs. 10 per share (at par), worth Rs. 15.9 crore, to 25 non-promoter individuals. Results will be announced by Sep 29, 2025.
Significant dilution is coming for existing shareholders as the company plans to issue shares worth about Rs. 80 crore — far larger than its current Rs. 3.5 crore authorised capital. The acquisition will bring in two new promoters (Gor and Rawal) and a new business line through GISPL, effectively changing the promoter group composition and scale of the company materially.