Tanla Platforms Limited has informed the Exchange regarding Notice of Postal Ballot
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Tanla Platforms Limited has issued a Postal Ballot Notice to shareholders for two special resolutions. The first is the appointment of Mr. Sunil Ramakant Bhumralkar (former EY partner, Chartered Accountant) as an Independent Director for a 5-year term from June 16, 2025 to June 15, 2030. The second and more significant item is a buyback of up to 20 lakh equity shares (1.49% of total paid-up capital) at ₹875 per share, for an aggregate value of up to ₹175 crore. The buyback price represents a premium of about 40.5% over the recent closing prices on NSE and BSE. The buyback will be executed through the tender offer route using the stock exchange mechanism. E-voting runs from June 17, 2025 to July 16, 2025, with results to be announced by July 18, 2025.
The buyback at a 40%+ premium is a positive signal for shareholders, indicating management's view that shares are undervalued and a commitment to return capital. Successful completion will reduce equity capital by 1.49% and return up to ₹175 crore to eligible shareholders on a proportionate basis. The new Independent Director adds governance strength with deep audit and corporate governance experience.