Ashapura Minechem Limited has initiated a postal ballot to seek shareholder approval for material related-party transactions (RPTs) with its overseas subsidiaries, Ashapura Holdings UAE FZE ('AHUF'), Ashapura Minex Resources SA ('Minex'), and Societe Guineenne Des Mines De Fer SA ('SGMF'). The proposed agreements, valued at an aggregate of ₹38,650 crore for FY27, aim to streamline mining, trading, and financing operations across the group’s international structure. Shareholders must cast their votes electronically by August 31, 2026, to ensure their positions are reflected in the final outcome. This process ensures compliance with SEBI Listing Regulations while facilitating transparent decision-making on cross-border group restructuring.

The Board of Directors appointed Mr. Virendra Bhatt, a Practicing Company Secretary based in Mumbai, as the Scrutinizer to oversee the remote e-voting process. In compliance with Section 108 and Section 110 of the Companies Act, 2013, read with Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014, the company conducted the voting exclusively through electronic means. Hard copies of the ballot forms were not dispatched, aligning with General Circular Nos. 14/2020, 17/2020, and 3/2025 issued by the Ministry of Corporate Affairs.

Key Voting Details

The postal ballot notice was emailed to members on July 31, 2026, targeting those registered in the Register of Members or Record of Depositories as of the cut-off date, Friday, July 24, 2026. Voting rights were calculated based on the paid-up equity share capital held by members on this specified date. Individuals not holding shares on July 24, 2026, were advised to treat the notice for informational purposes only.

Transaction Breakdown

The proposals involve two primary sets of transactions between AHUF and its step-down subsidiaries in Guinea. The first resolution seeks approval for RPTs between AHUF and Minex, valued up to ₹35,400 crore (₹3,54,000 Lakhs) during FY27. These transactions include sales of goods/materials/services (₹1,800 Lakhs), purchases (₹3,50,000 Lakhs), and interest income (₹2,200 Lakhs). The second resolution covers RPTs between AHUF and SGMF, valued up to ₹325 crore (₹32,500 Lakhs), involving similar operational and financial exchanges.

Regulatory Compliance and Disclosures

The proposal adheres to Regulation 44 and Regulation 23 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The materiality threshold for RPTs is set at 10% of the annual consolidated turnover, which was ₹5,237 crore for FY26, equating to ₹523.7 crore. Both proposed transaction values exceed this threshold significantly. The Postal Ballot Notice, along with the Explanatory Statement, is available on the company's website, www.ashapura.com , as well as on the websites of BSE Limited, National Stock Exchange of India Limited, and CDSL.

The results of the voting will be announced by Shri Hemul Shah, Executive Director & CEO, or in his absence, by Shri Sachin Polke, Company Secretary & Compliance Officer. The announcement is scheduled to take place on or before Wednesday, September 2, 2026, at the company's registered office in Mumbai. Promoters Chetan Shah and Himani Shah have indirect interests in the transactions through their shareholding in the company and directorship in AHUF.

Ashapura Minechem Ltd disclosed that its promoter group reported no encumbrances on shares held directly or indirectly during FY 2025-26. The filing confirms that all shares held by the promoter and promoter group remain free of charges as of March 31, 2026, ensuring full compliance with SEBI regulations.

Chetan Navnitlal Shah submitted the annual declaration on behalf of the promoter group to The BSE Limited and the National Stock Exchange of India Ltd. The disclosure was made pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulation, 2011.

The filing details the shareholding of the promoter group, which collectively holds 45,879,829 shares. The document explicitly states that no new encumbrances were created during the financial year beyond those previously disclosed.

Promoter Group Shareholding Details

The following table outlines the shareholding pattern of the promoter group as of March 31, 2026:

The declaration was signed on April 06, 2026, and addressed to the Deputy General Managers of both stock exchanges. A copy of the filing was also submitted to the Company Secretary and the Audit Committee of Ashapura Minechem Ltd .