Yash Optics & Lens Limited — Board Meeting, 16-01-2025: Outcome of Board Meeting

The Board of Directors of Yash Optics & Lens Limited has announced a board meeting, where key decisions were made regarding the Initial Public Offer (IPO). The board approved a proposal to vary the terms of IPO proceeds utilization, pending shareholder consent. A draft postal ballot notice was also approved to seek shareholder approval, with a cut-off date set for January 17, 2025, for postal ballot voting. Additionally, Mr. Avinash Gandhewar has been appointed as the scrutinizer for the postal ballot process. Notably, Rs. 182.5 Cr remains unutilized from the IPO proceeds, and a relocation of the manufacturing unit is proposed due to space limitations and to enhance labor accessibility and efficiency.