Waaree Renewable Technologies Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
WAAREERTL · price
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Waaree Renewable Technologies Limited has announced the results of its postal ballot conducted from March 16 to April 14, 2026. The single special resolution on the agenda was to increase the threshold for loans, guarantees, securities, and investments under Section 186 of the Companies Act, 2013. The resolution was passed with overwhelming approval - 98.14% votes in favor (78.9 million shares) and only 1.86% against (1.5 million shares). Promoter and promoter group voted unanimously in favor (100%), while public non-institutional shareholders also strongly supported it with 99.49% in favor. Notably, public institutions voted significantly against the resolution with 86.88% voting against.
The passing of this resolution gives the company's board greater flexibility to provide loans, guarantees, and make investments beyond current limits. While this enhances operational agility, the heavy opposition from institutional investors (86.88% against) may signal some concern among large shareholders about potential risks of expanded financial authority.