GTT Data Solutions Limited shareholders have approved five key corporate actions through a postal ballot process that concluded on August 02, 2026. The resolutions, which include an increase in the company’s authorized share capital and the conversion of outstanding loans and inter-corporate deposits extended by promoters into equity shares, were passed with overwhelming support. This approval paves the way for structural changes to the company’s capital base and governance, regularizing the appointments of two independent directors.

The voting results were submitted to BSE Limited on August 04, 2026, pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Kirti Sharma & Associates, a firm of practicing company secretaries, served as the scrutinizer for the e-voting process conducted via Central Depository Services (India) Limited (CDSL). The record date for the ballot was June 26, 2026, with a total of 5,312 shareholders on record.

Voting Results Overview

Out of 5,312 shareholders, 80 shareholders exercised their vote through e-voting. The promoter group held 26,000,949 shares, while public non-institutional shareholders held 15,775,994 shares. A total of 640,000 votes from the promoter group were marked as invalid due to pending off-market transfers that had not yet been credited to transferee accounts as of the record date. These shares were excluded from the final vote count to ensure fair representation.

Key Resolutions Passed

The first resolution sought to increase the authorized share capital of the company and make consequential alterations to Clause V of the Memorandum of Association. This ordinary resolution passed with 100% support from the promoter group and 99.73% support from public non-institutional shareholders.

The second resolution approved material related party transactions with SMCV Management Services Private Limited. The promoter group, having an interest in this agenda item, voted unanimously in favor. Public non-institutional shareholders supported the resolution with 99.34% of their polled votes.

Two special resolutions were passed to regularize the appointments of Mr. Sai Manik Sud (DIN: 11741274) and Dr. Charudatta Palwe (DIN: 00532670) as independent directors. Both appointments received near-unanimous support, with over 99.97% of valid votes cast in favor.

The fifth and final special resolution approved the conversion of outstanding loans and/or inter-corporate deposits (ICD) extended to the company by SMCV Management Services Private Limited and other promoters into equity shares. This measure, aimed at strengthening the company’s equity base, also secured 99.92% support among valid votes.

What the Numbers Show

The voting pattern highlights strong alignment between the promoter group and public non-institutional shareholders on these strategic initiatives. While the promoter group abstained or voted uniformly on non-conflicted items, their full participation in related-party and debt-conversion votes underscores their commitment to the proposed restructuring. The exclusion of 640,000 invalid votes from the promoter’s holding ensures that the reported support percentages reflect only beneficial owners, maintaining the integrity of the shareholder mandate.

GTT Data Solutions has initiated a postal ballot process seeking shareholder approval to increase its authorised share capital and convert outstanding promoter loans into equity. The e-voting period opens on July 04, 2026, and closes on August 02, 2026, with results expected to be announced on or before August 04, 2026.

Share Capital Increase

The Board proposes to increase the authorised share capital from ₹70 crore to ₹100 crore by creating an additional 3 crore equity shares of ₹10 each. This move aims to meet future capital requirements and enable the issuance of further shares. The alteration requires shareholder approval under Sections 13, 61, and 64 of the Companies Act, 2013.

Related Party Transactions

Shareholders will vote on approving material related party transactions with SMCV Management Services Private Limited for FY 2026-27. The proposed transactions, which include availing or rendering services, lending or borrowing, and property leasing, are capped at ₹20 crore. The company disclosed that in the previous financial year, it took an inter-company deposit of ₹8.90 crore from the related party.

Director Appointments

The company seeks ratification for the appointment of Mr. Sai Manik Sud and Dr. Charudatta Palwe as Independent Directors. Mr. Sud was appointed on May 26, 2026, for a term ending May 25, 2031, while Dr. Palwe was appointed on June 9, 2026, for a term ending June 8, 2031. Both appointments are subject to shareholder approval via special resolution.

Loan Conversion

A special resolution has been proposed to authorise the Board to convert outstanding loans and inter-corporate deposits from SMCV Management Services Private Limited and other promoters into equity shares. This conversion is intended to strengthen the capital base, reduce leverage, and improve the company's debt-equity mix.

Voting Details

The remote e-voting facility is managed by Central Depository Services (India) Limited (CDSL). Shareholders registered as of June 26, 2026, are eligible to vote. M/s. Kirti Sharma & Associates has been appointed as the scrutinizer for the process.