HFCL Limited has announced a revision in the completion timeline for its divestment of Nivetti Systems Private Limited. The company informed stock exchanges on March 16, 2026, about the extension of the transaction completion deadline through an addendum to the existing Share Purchase Agreement.

Transaction Timeline Extension

The completion of the stake sale has been rescheduled to June 30, 2026, from the previously announced date of March 15, 2026. This extension was formalized through an Addendum to the Share Purchase Agreement executed between HFCL Limited, Trinity Tech Solutions, and Nivetti Systems Private Limited.

Agreement Terms Remain Unchanged

HFCL emphasized that all other terms and conditions disclosed in compliance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 will remain unchanged. These terms were originally disclosed in the company's intimation dated September 01, 2025.

Previous Communications

The company has maintained regular communication with stock exchanges regarding this transaction. HFCL had previously issued intimations on September 01, 2025, October 15, 2025, and December 15, 2025, keeping stakeholders informed about the progress of the Share Purchase Agreement execution.

Regulatory Compliance

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by Manoj Baid, President & Company Secretary of HFCL Limited, ensuring proper corporate governance protocols were followed.

The extended timeline provides additional flexibility for completing the transaction while maintaining transparency with regulatory authorities and shareholders through proper disclosure mechanisms.

HFCL Limited has successfully completed its postal ballot process, with shareholders overwhelmingly approving the appointment of Mr. Anil Narendra Shah as a Non-Executive Independent Director. The company announced the voting results on March 16, 2026, following the conclusion of the remote e-voting period.

Postal Ballot Results

The special resolution for Mr. Anil Narendra Shah's appointment (DIN: 01844485) received strong shareholder support through the electronic voting process. The voting statistics demonstrate clear approval from the shareholder base.

Shareholder Participation Details

As of the cut-off date of February 06, 2026, HFCL had 8,45,831 shareholders on record. The company sent postal ballot notices electronically to 8,09,255 shareholders whose email addresses were registered with the company, Registrar & Share Transfer Agent, or Depository Participants.

The remote e-voting period commenced on Saturday, February 14, 2026, at 9.00 A.M. IST and concluded on Sunday, March 15, 2026, at 5.00 P.M. IST. National Securities Depository Limited (NSDL) served as the service provider for the electronic voting facility.

Category-wise Voting Breakdown

The voting results showed strong support across all shareholder categories:

Regulatory Compliance

CS Baldev Singh Kashtwal (Membership No. FCS 3616), appointed as scrutinizer by the Board of Directors on February 03, 2026, submitted his report confirming the voting process's compliance with regulatory requirements. The process adhered to Sections 108 and 110 of the Companies Act, 2013, and relevant SEBI regulations.

The company published advertisements in Indian Express (English), Divya Himachal (Hindi), and Jansatta (Hindi) newspapers on February 12, 2026, as required under the Companies (Management and Administration) Rules, 2014. The postal ballot notice and results are available on the company's website and NSDL's e-voting platform.

Resolution Outcome

With the requisite majority achieved, Mr. Anil Narendra Shah's appointment as Non-Executive Independent Director for his first term has been formally approved. The resolution was passed on March 15, 2026, the last date of the remote e-voting period, with all procedural formalities completed as per statutory requirements.