Super Spinning Mills Limited has informed the Exchange regarding voting results of Postal Ballot
SUPERSPIN · price
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Super Spinning Mills Limited has passed a special resolution through postal ballot (remote e-voting) authorizing the company to enter into joint development or to sell/otherwise dispose of certain immovable properties, including land and buildings, under Section 180(1)(a) of the Companies Act, 2013. The specific asset flagged is the Super B Unit-Quarters Premises at Kotnur Village, Hindupur Mandal, Sri Sathya Sai District, Andhra Pradesh. Out of 16,100 shareholders, 53 members cast 2,32,87,400 (2.33 crore) shares in total, with 49 members holding 2,32,87,228 shares (100%) voting in favour and only 4 members with 172 shares against. Public shareholders, whose separate approval was required under SEBI Regulation 37A, also voted overwhelmingly in favour (99.94%, i.e., 3,11,034 shares from 33 members). The voting was held from February 6, 2026 to March 7, 2026, and results were declared on March 9, 2026, with the scrutinizer being M D Selvaraj of MDS & Associates LLP.
Shareholders have given the company a clear green light to monetize its real estate assets, which could unlock cash for the spinning mill business or reduce fixed-asset overheads. With near-unanimous public shareholder support, no meaningful opposition exists, and the actual sale execution and proceeds will depend on management's next steps.