Please find enclosed herewith Voting Results of the EGM held on 25.06.2025.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Vardhman Special Steels held an EGM on 25 June 2025, from 10:30 AM to 10:55 AM, where all three special resolutions were passed with overwhelming approval. Resolution 1 was to issue and allot equity shares and received 100% votes in favour. Resolution 2 was to amend the Articles of Association of the Company and received 99.9967% votes in favour (1,743 votes against). Resolution 3 was to approve special rights granted to Aichi Steel Corporation (a Japanese partner) under SEBI LODR Regulation 31B and received 99.9968% votes in favour (1,723 votes against). Total shareholder turnout was 65.25% with 5.33 crore shares voted out of 8.17 crore outstanding shares. Promoters (holding 4.93 crore shares, 60.4% of equity) voted 100% in favour of all resolutions.
The approvals clear the path for a potential equity issuance and grant special rights to Aichi Steel Corporation, suggesting a strategic capital-raising event or deepening of the existing partnership. Shareholders should watch for the actual terms of the share allotment and any related-party implications, though minority dissent was minimal (under 0.001% on all resolutions).