Envair Electrodyne Limited has disclosed the publication of its postal ballot notice in English and Marathi newspapers on June 3, 2026, under Regulation 30 of the SEBI Listing Regulations. The notice seeks shareholder approval to sell its entire 19.33% equity stake in Alliance Asia Pac Pte. Ltd., Singapore, to promoters for an aggregate consideration of ₹2.12 crore. The remote e-voting period is scheduled from 10:00 a.m. on June 4, 2026, to 5:00 p.m. on July 3, 2026. The transaction involves the sale of 1,43,750 equity shares at a price of $1.55 per share to Mr. Harish Kumar Agarwal and Mr. Anil Nagpal. The disposal is intended to optimize the company's investment portfolio, unlock value, and strengthen liquidity to focus on core business operations.

The Board of Directors approved the proposal on May 28, 2026, based on a valuation report received from S.M. Bhat & Associates. The investee company, Alliance Asia Pac Pte. Ltd., owns a soap manufacturing plant in Indonesia through its subsidiary PT Alliance Consumer Products Indonesia, which counts Unilever PLC as a major customer. For the financial year ended March 31, 2026, Envair Electrodyne reported a net profit of ₹10.75 lakh, returning to profitability from a net loss of ₹46.53 lakh in the previous year.

Transaction Details

The sale of the overseas investment requires shareholder consent via a special resolution pursuant to Section 180(1)(a) of the Companies Act, 2013. The consideration of ₹2.12 crore will be paid by the promoters in equal proportion through cash mode, subject to FEMA regulations and other applicable laws. The company expects to complete the transaction after the postal ballot process concludes on July 3, 2026.

E-Voting Schedule

The postal ballot notice is being sent electronically to members whose e-mail addresses are registered with the company or depositories as on the cut-off date of May 29, 2026. Mr. Rajeev Kumar Sanger, Proprietor of M/s. Sanger & Associates, Company Secretaries, has been appointed as the scrutinizer to conduct the e-voting process. The results will be declared on the company's website and communicated to the stock exchanges post-scrutiny.

Envair Electrodyne has received initial approval for a Copper Clad Laminated manufacturing project in Odisha, with an estimated investment of ₹136.87 crore. This development marks a notable step forward for the company as it moves to establish a dedicated manufacturing presence in the state.

Project Overview

The key details of the approved project are outlined below:

Significance of the Development

The initial approval for the Copper Clad Laminated manufacturing facility underscores Envair Electrodyne's intent to expand its industrial footprint in Odisha. Copper Clad Laminates are critical materials used in the production of printed circuit boards, which are integral components across electronics and electrical industries. The estimated investment of ₹136.87 crore reflects the scale of the proposed facility and its potential contribution to the company's manufacturing capabilities.