Voting results along with scutinizer report of the Extra Ordinary General Meeting as on Monday, 31st March 2025.
Awaiting price reaction for this filing.
Shantai Industries Ltd held an Extra Ordinary General Meeting on March 31, 2025, at its registered office in Surat, Gujarat. Two ordinary resolutions were put to vote: (1) sub-division/split of equity shares under Section 61(1)(d) of the Companies Act, 2013, and (2) alteration of the Capital Clause in the Memorandum of Association (MOA). Both resolutions passed comfortably, with 10 shareholders holding 11,16,724 shares (74.45%) voting in favor, and only 1 shareholder with 6 shares voting against. No shares were declared invalid or abstained. The scrutinizer, Jitendrakumar Rawal (Practicing Company Secretary), confirmed the voting process — covering both remote e-voting (March 28–30, 2025) and physical poll — was conducted fairly and transparently. The exact split ratio has not been disclosed in this filing.
Once implemented, the approved stock split will increase the number of shares outstanding and proportionally reduce the per-share price, which typically improves liquidity and makes the stock more affordable for retail investors. Existing shareholders will receive additional shares as per the split ratio, which the company is yet to announce. No material change in the company's underlying value is expected from this corporate action.