TRF Limited has informed the Exchange regarding Notice of Postal Ballot
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TRF Limited has issued a postal ballot notice seeking shareholder approval for two material related party transactions (RPTs) with its promoter, Tata Steel Limited. The first resolution covers operational RPTs worth up to ₹321 crore for FY2025-26, including sale of goods and services (₹271 crore) and purchase of goods and receipt of services (₹50 crore). The second resolution covers financial RPTs of up to ₹100 crore for availing non-fund based banking facilities from Tata Steel over a 3-year period. The Audit Committee has already approved both transactions, confirming they will be at arm's length and in the ordinary course of business, with a certificate from the MD and CFO stating they are not prejudicial to public shareholders. E-voting runs from April 23, 2025 (9:00 a.m. IST) to May 22, 2025 (5:00 p.m. IST) via NSDL.
These are routine regulatory approvals required under SEBI Listing Regulations for material transactions with the promoter. Approval is widely expected given Tata Steel's majority stake, and the transactions aim to improve TRF's facility utilization and financial position by leveraging Tata Steel's brownfield/greenfield expansion projects. Public shareholders may want to review the detailed rationale and arm's length certification before voting.