Avantel Limited has dispatched physical communication letters to shareholders whose email addresses are not registered, informing them of the Postal Ballot process. This step ensures all members can access the Notice of Postal Ballot dated September 18, 2026, seeking approval to alter the Objects Clause of its Memorandum of Association.

The dispatch complies with Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication provides a web link to the Company's website where the full notice can be accessed. Remote e-voting commenced at 9:00 am on Wednesday, September 23, 2026, and will conclude at 5:00 pm on Thursday, October 22, 2026. Results are scheduled for declaration on Friday, October 23, 2026.

Context of MOA Alteration

The proposed alteration is directly linked to the company's strategic pivot and the approved merger of its wholly owned subsidiary, Imeds Global Private Limited. The new objects clause (Clauses 16 to 21) broadens Avantel's mandate to include:

• Medical devices, healthcare technology, telemedicine, and life sciences research.
• Satellite systems, space technology, ground station services, and remote sensing.
• Energy systems including nuclear, solar, wind, hydrogen, and battery storage.
• Mechanical, electrical, and electronic manufacturing services.
• Microelectronics, semiconductor packaging, and testing facilities.
• Artificial intelligence, machine learning, cybersecurity, and data centres.

Merger Details and Financials

The decisions were taken during a board meeting held on September 18, 2026, at the company’s corporate office in Hyderabad. The meeting commenced at 10:30 am and concluded at 3:10 pm.

The scheme of merger involves the consolidation of Imeds Global (Transferor Company) into Avantel Limited (Transferee Company). This transaction is governed by Sections 230 to 232 of the Companies Act, 2013.

Since Imeds Global is a wholly owned subsidiary, no cash consideration is proposed, and no shares of Avantel will be allotted. The equity shares held by Avantel in Imeds Global will be extinguished upon the scheme becoming effective. Consequently, there will be no change in Avantel’s shareholding pattern.

Figures in ₹ lakh

Rationale and Regulatory Compliance

The company stated that the merger aims to rationalise the group structure, simplify governance and reporting, and eliminate duplication of administrative functions. The transaction falls under the exemption provided under Regulation 23(5)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as it involves a wholly owned subsidiary.

The expanded scope requires shareholder approval via postal ballot. In compliance with MCA General Circulars, the notice has been sent electronically to members whose email addresses are registered as on the cut-off date of September 18, 2026. KFin Technologies Limited has been engaged to facilitate the remote e-voting process.

Voting Eligibility and Contact Details

Members whose names appear in the Register of Members or Register of Beneficial Owners as on the cut-off date of September 18, 2026, are entitled to cast their votes through the remote e-voting facility only. Shareholders holding shares in physical form who have not updated their KYC details may submit Form ISR-1 along with prescribed documents to the Registrar and Share Transfer Agent to register their email address.

For shares held in Demat form, investors should contact their respective Depository Participants. For physical holdings, requests should be directed to KFin Technologies Limited, the company's Registrar and Share Transfer Agent.

Trading Window Closure

In compliance with insider trading norms, the trading window for dealing in Avantel securities was closed from September 13, 2026. It remains closed until 48 hours after the declaration of the board meeting outcome.

Shareholders of Avantel Limited have approved three special resolutions through a postal ballot process that concluded on August 16, 2026. The approvals solidify the company's leadership structure with the re-appointment of an executive director, the induction of a new operations director, and the continued tenure of an independent director.

The resolutions were passed with overwhelming support from the promoter group, which held 98,432,202 shares and voted in favor of all three items. Public institutional and non-institutional shareholders also largely supported the proposals, with approval rates exceeding 99% across the board.

Director Appointments Approved

The postal ballot sought shareholder approval for the following appointments:

• Abburi Siddhartha Sagar (DIN: 02312563): Re-appointed as Executive Director (Strategy & Business Development) for a further term of five consecutive years, commencing March 8, 2027, and ending March 7, 2032. He is liable to retire by rotation.
• Peddi Bala Bhaskar Rao (DIN: 10338290): Appointed as Director (Operations) for a term of three consecutive years, commencing July 11, 2026, and ending July 10, 2029. He is liable to retire by rotation.
• Vyasabhattu Ramchander (DIN: 03400005): Re-appointed as Independent Director for a second consecutive term of five years, commencing May 6, 2027, and ending May 5, 2032. He is not liable to retire by rotation. The re-appointment was approved notwithstanding that he will attain the age of seventy-five during the term.

Voting Results Breakdown

The voting data reveals high engagement from the promoter group, while public shareholder participation remained modest relative to total holdings. The table below details the voting outcomes for each resolution.

Promoter shareholders cast all their votes in favor of every resolution. Among public non-institutional shareholders, who hold 161,625,736 shares, approximately 6.8% participated in the voting. Institutional public shareholders, holding 5,652,912 shares, showed higher participation at 18.13%.

What the Numbers Show

The voting pattern indicates consolidated control by the promoter group, which holds nearly 37% of the total equity (98,432,202 shares out of 265,710,850). The near-unanimous support from both promoters and participating public shareholders suggests no significant dissent regarding the proposed board changes. The low opposition rates—ranging from 0.01% to 0.02%—reflect broad alignment with the management’s nomination slate.

Procedural Compliance

The remote e-voting period commenced on July 18, 2026, at 9:00 am and ended on August 16, 2026, at 5:00 pm. The record date for determining voting entitlement was July 14, 2026. M B Suneel of P. S. Rao & Associates served as the scrutinizer for the process, certifying the results pursuant to Sections 108 and 110 of the Companies Act, 2013 and Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.