Voting Results and scrutinizer report of the postal Ballot
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Sylph Industries has received shareholder approval via postal ballot for two key resolutions. The first resolution increases the authorised share capital from ₹100 crore to ₹125 crore by creating 25 crore additional equity shares of ₹1 each. The second resolution approves a bonus issue of 5 equity shares for every 11 existing shares held (5:11 ratio), by capitalizing up to ₹38.53 crore from securities premium, general reserve, or retained earnings. Both resolutions passed with overwhelming majority — over 99.95% of votes polled were in favour. Out of 37,500 members, only 108 members holding 32.62 lakh shares participated in the e-voting process. The record date for the bonus issue will be determined by the Board later.
The bonus issue will expand the total share count by about 45% but is funded from existing reserves, so it does not raise new capital or change the company's underlying value for shareholders. The share price is expected to adjust downward proportionally once the bonus shares are credited, while total holdings remain the same in value.