The India Cements Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
INDIACEM · price
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On the reaction day the stock moved 1.1 pts less than Nifty Smallcap 250 and 0.2 pts less than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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India Cements shareholders have approved a Material Related Party Transaction with its holding company, UltraTech Cement Limited, through a postal ballot (remote e-voting) held from May 28 to June 26, 2025. The ordinary resolution passed with overwhelming support: 2,54,77,455 votes in favour (99.98%) versus just 6,207 votes against (0.02%). Out of 1,72,633 total shareholders, 874 cast valid votes representing about 8.22% of outstanding shares. Notably, the promoter and promoter group, holding roughly 81% of shares (25,25,29,160 shares), did not participate in voting since they are interested in the resolution. Public institutions backed the move unanimously, while public non-institutions supported it 98.86%.
The approval clears the way for material related party transactions between India Cements and its parent UltraTech Cement, providing operational and commercial flexibility. The near-unanimous support from voting shareholders reflects confidence in the transaction terms, with no material governance red flags.