Afcons Infrastructure Limited has successfully completed its postal ballot process, with shareholders delivering overwhelming approval for a material related party transaction with Shapoorji Pallonji Mideast LLC, a promoter group company. The resolution was passed on April 03, 2026, marking the conclusion of the remote e-voting period that commenced on March 05, 2026.

Voting Results and Participation

The postal ballot witnessed strong shareholder participation, with the ordinary resolution securing decisive approval from the voting members.

Out of 2,43,147 total shareholders on the cut-off date of February 27, 2026, a total of 1,064 members participated in the voting process, representing 12,32,96,837 valid votes cast.

Category-wise Voting Pattern

The voting pattern revealed interesting dynamics across different shareholder categories, with promoter and promoter group shareholders abstaining from the process due to their interest in the resolution.

Regulatory Compliance and Process

The postal ballot was conducted in strict compliance with Section 110 of the Companies Act, 2013, and Regulation 44 of the SEBI Listing Regulations. Mr. Mitesh Dhabliwala from Parikh Parekh & Associates served as the appointed scrutinizer for the process.

Transaction Significance

The approved resolution pertains to material related party transactions between Afcons Infrastructure Limited and Shapoorji Pallonji Mideast LLC, which is classified as a promoter group company. The transaction required shareholder approval under regulatory provisions governing related party transactions.

The company's total shareholding base of 36,77,84,631 shares witnessed 33.52% participation in the voting process, demonstrating active shareholder engagement in corporate governance matters. The unanimous support from public institutions and near-universal approval from public non-institutional shareholders reflects confidence in the proposed transaction's merit.

Afcons Infrastructure Limited has successfully completed the redemption of its Commercial Paper worth Rs 30.00 crores on the scheduled maturity date of March 25, 2026. The company informed both stock exchanges about this debt settlement through an official regulatory filing and issued a compliance certificate under SEBI Master Circular requirements.

Commercial Paper Details

The redeemed Commercial Paper carried specific identification parameters and had a relatively short tenure in the market.

SEBI Compliance Certificate

The company issued an official certificate pursuant to Chapter XVII of SEBI Master Circular no. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated October 15, 2025 (as amended). This certificate confirms that the company has fulfilled its payment obligation in respect of the Commercial Paper redemption.

Regulatory Communication

The infrastructure company formally notified both major Indian stock exchanges about the completion of this financial obligation. The communication was addressed to BSE Limited at Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai, and National Stock Exchange of India Ltd at Exchange Plaza, Bandra-Kurla Complex, Mumbai.

Official Documentation

Company Secretary and Compliance Officer Gaurang Parekh, holding membership number F8764, signed the official communication on March 25, 2026. The document was digitally signed, ensuring proper authentication and regulatory compliance with SEBI requirements.

Financial Instrument Overview

Commercial Papers represent short-term debt instruments typically used by companies for meeting immediate working capital requirements. The successful redemption on the scheduled date demonstrates the company's ability to meet its short-term debt obligations as planned. The completion of this redemption removes the Rs 30.00 crore obligation from the company's books and concludes this particular short-term financing arrangement.