JBM Auto Ltd approves all 12 resolutions via postal ballot

JBM Auto Ltd announced that its shareholders have approved all 12 resolutions put to vote through a remote e-voting process conducted on July 3, 2026. The resolutions sought approval for material related party transactions with various group entities and statutory authorizations for the Board. The postal ballot notice was dated May 11, 2026, with the remote e-voting period open from June 4, 2026, to July 3, 2026.

The scrutinizer's report, submitted by Dhananjay Shukla & Associates, confirmed the passage of eight ordinary resolutions and four special resolutions. The ordinary resolutions primarily concerned material related party transactions with entities such as JBM Electric Vehicles Private Limited, Ecolife Mobility EV Private Limited, and Neel Metal Products Limited. These resolutions received approval ranging from 89.37% to 99.36% of the votes cast.

Voting Results Summary

The following table details the voting outcomes for the key resolutions:

Resolution Description	Type	Votes In Favour	Votes Against	% In Favour
Material Related Party Transaction(s) with JBM Electric Vehicles Private Limited	Ordinary	4,02,96,609	2,58,541	99.36
Material Related Party Transaction(s) with Neel Metal Products Limited	Ordinary	3,62,44,530	43,10,601	89.37
Pledge of shares of JBM Ecolife Mobility Private Limited	Special	4,00,23,750	5,31,380	98.69
Authorisation to Board under Section 180(1)(c)	Special	3,76,01,067	29,54,103	92.72

Special Resolutions Approved

Shareholders also approved four special resolutions. These included the authorization to the Board under Sections 180(1)(c) and 180(1)(a) of the Companies Act, 2013, as well as Section 185 of the Act. Another special resolution sought approval for the pledge of shares of the material subsidiary, JBM Ecolife Mobility Private Limited. The special resolutions required a higher threshold for approval and secured between 89.22% and 98.69% of the votes polled.

Procedural Details

The cut-off date for determining shareholder eligibility was May 29, 2026. The total number of valid votes cast across all resolutions was approximately 4.05 crore. The e-voting facility was provided by KFin Technologies Limited. The scrutinizer unblocked the votes in the presence of two witnesses who were not employees of the company.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.90%	-1.78%	+3.03%	+4.97%	+5.68%	+660.58%

JBM Auto 's subsidiary, JBM Ecolife Mobility, has secured a ₹750 Cr strategic investment from Motilal Oswal Alternates to scale its electric bus deployment across India. Announced on June 18, 2026, this transaction represents the largest investment by an Indian investor in the electric mobility sector to date. The capital infusion will enable the rollout of approximately 2000 energy-efficient e-buses, targeting a reduction of CO2 emissions by 2.5 Bn kgs and savings of 1 Bn litres of diesel over their lifetime.

Motilal Oswal Alternates, the alternative investment arm of Motilal Oswal Group, is leading this investment to provide growth capital for JBM Ecolife. The funding will support the operation of zero-emission public transport fleets under long-term agreements with state transport authorities. EY acted as the exclusive financial advisor to JBM Ecolife, while Trilegal and Khaitan & Co. served as legal advisors for the transaction.

Expansion and Market Leadership

The investment will facilitate the expansion of JBM's fleet from the current 3400 e-buses to approximately 5000 e-buses on roads within the next 12 months. The following table summarises the key parameters of this investment:

Parameter:	Details
Investment Amount:	₹750 Cr
Investor:	Motilal Oswal Alternates
E-Buses to be Deployed:	~2000
Fleet Expansion Target:	~5000 e-buses
Current Fleet Size:	3400 e-buses
CO2 Emission Reduction:	2.5 Bn kgs
Diesel Savings:	1 Bn litres
Employment Generation:	7000+ individuals

Nishant Arya, Vice Chairman & MD of JBM Auto Ltd, highlighted the company's market leadership in the electric bus sector in FY26. He stated that the partnership would act as a catalyst for scaling deployment and delivering cleaner public commuting experiences. Rakshat Kapoor, Head of Private Credit at MO Alternates, noted that JBM's long-term concession structures offer predictable, contract-backed cash flows, describing the ₹750 Cr commitment as a high-conviction allocation aimed at institutionalising green mobility infrastructure in India.

Operational and Environmental Impact

The deployment of these e-buses is expected to generate employment for over 7000 people. The project aligns with national initiatives such as the PM Gati Shakti, PM e-Bus Sewa Programme, and PM e-Drive initiative. The consolidated orderbook of JBM Auto and JBM Ecolife Mobility currently stands at 10,000+ electric buses deployed and under execution.

JBM Auto has established one of the world's largest dedicated integrated electric bus manufacturing facilities outside China, located in the Delhi-NCR region, with an annual production capacity of 20,000 electric buses. Since introducing electric buses in 2018, the company has clocked 400 million e-kms under its 3 Bn e-kms promise, serving over 1.5 Bn commuters globally.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE927D01051/09b85322d59544f4.pdf