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Awaiting price reaction for this filing.
Valiant Communications Limited (BSE: 526775) announced the results of a postal ballot conducted between October 19, 2025 and November 17, 2025. Shareholders approved a special resolution to issue up to 6,00,000 fully convertible warrants to persons/entities belonging to the 'Public' category on a preferential basis. Out of 7,220 shareholders on record, 76 members participated in the remote e-voting, casting 56,91,377 votes — representing 49.74% of total outstanding shares. The resolution passed with near-unanimous support, with 56,91,370 votes (99.9999%) in favour and just 7 votes against. Promoters voted all 46,57,160 of their shares in favour, while public non-institutions also overwhelmingly supported the move.
This preferential warrant issue is a potential dilution event — once the warrants are exercised and converted into equity shares, existing shareholders' stakes will reduce accordingly. However, the strong promoter backing (100% in favour) signals management confidence. Investors should watch for further disclosures on warrant pricing, allotment, and the eventual conversion terms.