Integrated Proteins Limited has incorporated a new wholly owned subsidiary, TERRANEXA AGTECH INC, in New Jersey, USA. This move aims to leverage new growth opportunities in the US markets through agricultural technology services.

The company disclosed the development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The subsidiary was formed with an authorized and paid-up share capital of $1,000, divided into 1,000 shares of $1 each. The cost of acquisition for the 100% shareholding was at face value, approximately ₹95,000.

Subsidiary details

The new entity operates in the sector of agricultural technology services and other lawful activities under state law. As a newly incorporated entity, the turnover is currently not applicable. The subsidiary is engaged in the same business line as the holding company, ensuring strategic alignment with Integrated Proteins' core operations.

Regulatory and operational context

The incorporation requires approvals from the Reserve Bank of India and statutory regulatory authorities in New Jersey. Since the entity is a wholly owned subsidiary, it is classified as a related party to the listed entity. The promoters, promoter group, and group companies do not hold any interest in this transaction beyond their stake in the parent company.

The company stated that the primary objective is to expand its footprint in the US agricultural technology sector. No specific timeline for further capital infusion or operational milestones was provided in the disclosure.

Integrated Proteins Limited concluded its 33rd Annual General Meeting (AGM) on September 30, 2026, passing all three proposed resolutions. The meeting was conducted via Video Conferencing and Other Audio Visual Means.

The company reported that 19 shareholders attended the virtual meeting. Of these, 18 public shareholders and 1 promoter representative participated through video conferencing. No shareholders attended in person or through proxy. The total number of shareholders on the record date of September 23, 2026, stood at 2,262.

Resolutions Passed

All three items of business transacted at the AGM received shareholder approval. The resolutions covered the adoption of financial statements, the regularization of an independent director's appointment, and the appointment of a secretarial auditor.

Voting Participation Details

Voting was conducted through remote e-voting prior to the meeting and electronic voting during the AGM. The scrutinizer's report indicated that 11 members cast their votes in total. These members held 83,705,010 shares, representing approximately 44.73% of the total outstanding shares.

Scrutinizer Report Highlights

• Total Votes Polled: 83,705,010
• Remote E-Voting Participants: 10 members
• Electronic Voting at AGM: 1 member
• Invalid Votes: 0 across all categories

What the Numbers Show

A distinct pattern emerges when comparing promoter participation against public shareholder turnout. Despite holding 4,190,200 shares, the Promoter and Promoter Group recorded zero votes polled across all three resolutions. In contrast, Public Non-Institutional shareholders, who held the majority of the equity base at 182,945,800 shares, accounted for 100% of the votes cast. This suggests that while promoters abstained from voting, the quorum and majority requirements were met entirely through remote e-voting by public investors, with no dissenting votes recorded against the adoption of financial statements.