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Valiant Communications Limited conducted a postal ballot to seek shareholder approval for issuing up to 6,00,000 fully convertible warrants to persons/entities belonging to the 'Public' category on a preferential basis. The e-voting period ran from October 19, 2025 to November 17, 2025, with 7,220 shareholders on record as of the October 10, 2025 cut-off date. Out of 5,691,377 valid votes polled, 5,691,370 (99.9999%) voted in favour and only 7 votes (0.0001%) were against the special resolution. The resolution was passed with the requisite majority and is effective from November 17, 2025. The scrutinizer, Mr. Mahesh Kumar Gupta, confirmed the process was fair and transparent.
The approved issuance of 6,00,000 convertible warrants to public-category entities will lead to equity dilution once the warrants are exercised, potentially affecting existing shareholders' ownership. However, it also signals the company's intent to raise fresh capital, which could support growth or strengthen the balance sheet depending on the purpose of the fundraise.