Jindal Photo Limited shareholders have approved the voluntary delisting of its equity shares from the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The company disclosed the voting results on August 19, 2026, confirming that the special resolution passed with overwhelming support from both promoter and public shareholders.

The postal ballot process, conducted via remote e-voting and physical forms, ran from July 20, 2026, to August 18, 2026. Out of 16,623 shareholders as on the cut-off date of July 10, 2026, a total of 72 members cast valid votes. The resolution required approval under Regulation 44(3) of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, and Regulation 11(4) of the SEBI Delisting of Equity Shares Regulations, 2021.

Voting Results Breakdown

The promoters and promoter group held 7,612,143 shares and voted unanimously in favour of the delisting. Among public non-institutional shareholders, who held 2,644,455 shares, 55.19% of outstanding shares were polled. Of these polled votes, 99.36% supported the resolution.

Regulatory Compliance and Scrutiny

Pragnya Pradhan & Associates, appointed as the scrutinizer, confirmed that the resolution met the statutory thresholds. Under the Companies Act, 2013, votes in favour must be at least three times those against; here, 9,062,559 votes supported the move against 9,281 dissenting votes.

For public shareholders, excluding promoters, SEBI regulations require votes in favour to be more than twice those against. The public assent of 1,450,416 votes significantly exceeded the dissent of 9,281 votes, satisfying this criterion as well.

What the Numbers Show

The voting data reveals a stark divergence in participation rates between shareholder categories. While the promoter group achieved 100% participation on their entire holding, institutional public shareholders recorded zero participation despite holding 1,728 shares. This suggests that the delisting drive relied heavily on promoter backing and retail non-institutional engagement, with institutional investors abstaining from the vote entirely. The high level of dissent among the small number of participating public voters (0.64%) is statistically negligible but indicates minority opposition to the exit strategy.

Jindal Photo Limited has approved the re-appointment of Manoj Kumar Rastogi as its Managing Director for a five-year term, ensuring leadership continuity as his current tenure concludes. The Board of Directors sanctioned the move during a meeting held on August 04, 2026, with the new term effective from August 10, 2026. This decision follows a recommendation from the Nomination and Remuneration Committee and remains subject to ratification by shareholders at the company’s ensuing Annual General Meeting.

The disclosure was made under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also incorporates details required under SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Mukta Sharma, Company Secretary and Compliance Officer, signed the filing.

Appointment Details

Manoj Kumar Rastogi, aged 62, holds a B.Sc degree and brings over 28 years of experience in Management Information Systems (MIS), Finance, and Accounts. He is not related to any other present directors of the company. The Board meeting commenced at 05:00 P.M. and concluded at 05:35 P.M. on August 04, 2026.