Shivam Autotech Limited — Important, 22-12-2024: Updates

The postal ballot resolution concerning the issuance of Secured, Optionally Convertible Debentures on a Private Placement Basis was approved by shareholders. The voting results indicated a strong majority, with 99.95% of votes in favor, amounting to approximately 91.64 crore shares out of 91.69 crore total shares voted.

Promoters voted unanimously in favor, with 100% support from their side, while the public non-institutional investors also showed considerable support, with 82.42% voting for the resolution.

This approval enhances Shivam Autotech's financial flexibility, potentially allowing for strategic investments and growth initiatives. Investors may view this as a positive development, reflecting confidence in the company's future capital-raising capabilities.