Bajel Projects Limited shareholders approved material related party transactions with AnantGrid Projects One Private Limited and its subsidiary Lakadia A Power Transmission Limited. The resolution passed with 99.94% of valid votes cast in favour during the remote e-voting process concluded on October 4, 2026.

The approval covers transactions between the company and AnantGrid Projects One Private Limited (AGPOPL) or its wholly owned subsidiary. The voting results were submitted to stock exchanges following the conclusion of the e-voting window, which remained open from September 5, 2026, to October 4, 2026.

Voting participation details

The postal ballot involved a total of 81,276 shareholders on the record date of August 28, 2026. Out of 115,696,935 outstanding shares, 10,858,162 votes were polled, representing a turnout of 9.39% of total shares. The promoter and promoter group did not cast any votes, likely due to their interest in the transaction.

What the numbers show

The voting pattern reveals a stark divergence between institutional and retail sentiment. Public institutions, holding 10,992,664 shares, voted 100% in favour of the resolution, casting 10,732,828 votes. In contrast, public non-institutional shareholders, who held a larger block of 32,361,992 shares, showed slight dissent. Only 125,334 votes were polled from this category, representing a mere 0.39% participation rate. Of these, 6,258 votes were cast against the resolution, accounting for 4.99% of the non-institutional votes polled. This indicates that while institutional investors unanimously backed the related party transactions, a small fraction of participating retail investors opposed them.

Regulatory compliance

The resolution was passed as an ordinary resolution under Section 110 of the Companies Act, 2013, and Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scrutinizer’s report, issued by Anant B. Khamankar & Co., confirmed that the requisite majority was achieved. The results have been uploaded to the company’s website and the e-voting agency’s portal for public record.

Bajel Projects will host a virtual one-on-one meeting with DMZ Partner Investment Management LLP on September 16, 2026. The engagement is part of the company's routine investor relations schedule.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that no unpublished price-sensitive information will be shared during the session.

Meeting Details

Amee Bharatbhai Joshi, Company Secretary and Chief Compliance Officer, signed the intimation. The schedule remains subject to change due to exigencies.