Bhanderi Infracon Limited passed all four resolutions proposed at its 22nd Annual General Meeting held on September 30, 2026. The meeting approved the audited financial statements for FY26 and confirmed key director appointments.

The company reported that 17,40,700 votes were polled out of 25,96,600 outstanding shares, representing a turnout of 67.04%. All resolutions received 100% support from the votes cast, with zero dissent recorded across promoter and public categories.

Key resolutions approved

The shareholders adopted the audited standalone and consolidated financial statements for the financial year ended March 31, 2026. The meeting also regularized the appointment of Mr. Devendra Prakash Khandelwal as an Independent Director for a five-year term ending February 3, 2031. Additionally, Mrs. Bhunikaben Patel was reappointed as a Director liable to retire by rotation.

A significant resolution involved the authorization of related party transactions for FY27. Members consented to contracts with Bhanderi Corporation Limited, Managing Director Sunil Patel, and Director Bhunikaben Patel, each capped at ₹50 crore.

Voting participation details

The voting results highlighted a strong presence of promoter shares in the quorum. Promoters and the promoter group held 14,79,600 shares, of which 14,62,600 were voted via physical ballot. Public non-institutional shareholders voted 2,78,100 shares through e-voting and physical ballots.

What the numbers show

The voting pattern reveals a distinct separation between routine governance matters and related party approvals. For standard resolutions like financial statement adoption and director reappointments, promoters participated heavily, accounting for the bulk of the 67.04% turnout. However, for Resolution 4 concerning related party transactions, promoters abstained from voting due to their interest in the agenda. Consequently, the passage of this resolution relied entirely on the 2,78,100 votes from public non-institutional shareholders, who constituted 10.71% of the total outstanding share capital.

Plenitude Enterprises Private Limited has increased its stake in Bhanderi Infracon to 9.61% of the total equity capital. The Mumbai-based acquirer filed a disclosure on September 26, 2026, reporting the acquisition of 51,600 equity shares through open market transactions between September 9 and September 24, 2026.

This latest accumulation brings the combined holding of Plenitude Enterprises and its Persons Acting in Concert (PAC), Planera Enterprises Private Limited, from 7.63% (1,98,000 shares) to 9.61% (2,49,600 shares). The filing is made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details

The acquirer executed six open market purchases subsequent to its previous disclosure. The transactions involved consistent daily volumes for the first five days, followed by a smaller purchase on the final date. The breakdown of the recent acquisitions is as follows:

Regulatory Context

The target company’s total equity share capital remains unchanged at 25,96,600 shares with a face value of ₹10 each. Plenitude Enterprises is not part of the promoter group of Bhanderi Infracon. No shares were encumbered or pledged during these transactions.

What the Numbers Show

The steady accumulation pattern, with five consecutive identical purchases of 9,600 shares, suggests a systematic acquisition strategy rather than opportunistic buying. This methodical approach allowed Plenitude Enterprises to cross the 9.61% threshold without triggering immediate regulatory scrutiny associated with larger single-day blocks, maintaining a consistent pace over two weeks.