Maharashtra Scooters has announced an interim dividend of ₹160 per share for the financial year ending March 31, 2027. The Board of Directors approved the payout in a meeting held on September 15, 2026.

Dividend details

Shareholders whose names appear on the register of members as on the record date will be eligible to receive the interim dividend. The key details of the announcement are summarised below.

The dividend represents a 1,600% payout on the face value of ₹10 per equity share. Eligible shareholders will receive the credited amount on or before Tuesday, October 13, 2026.

Maharashtra Scooters has dispatched a postal ballot notice to shareholders seeking approval for a corporate name change and alterations to its object clause. The company proposes renaming itself to Bajaj Nivesh Limited. The move aligns with its strategic objective of operating as an Unregistered Core Investment Company (CIC).

The postal ballot notice, dated July 29, 2026, was sent to members on August 28, 2026. Shareholders holding securities as of the cut-off date of August 21, 2026, are eligible to vote. The e-voting period commences on August 29, 2026, at 9:00 am and concludes on September 27, 2026, at 5:00 pm.

Strategic Rationale for Name Change

The board approved the name change at its meeting on July 29, 2026. The company discontinued geared scooter manufacturing in 2006 and closed tool room operations in FY25. Currently, it holds not less than 90% of its net assets in investments in group companies, complying with RBI Master Directions for Core Investment Companies.

The Central Registration Centre (CRC) under the Ministry of Corporate Affairs approved the reservation of the name "Bajaj Nivesh Limited" via a letter dated August 14, 2026. The change requires a special resolution from shareholders and subsequent issuance of a fresh Certificate of Incorporation by the Registrar of Companies.

Alterations to Object Clause

The proposed amendments to the Memorandum of Association (MOA) involve deleting clauses related to scooter manufacturing and technical assistance agreements with Bajaj Auto Limited. The existing investment-related clause will be retained and renumbered.

Additionally, the company plans to insert a new clause enabling it to pursue renewable energy generation and production through solar, wind, and other natural resources. This expansion is subject to applicable regulatory requirements and necessary approvals.

Compliance and Scrutiny

KKC & Associates LLP, the statutory auditors, issued a certificate dated August 25, 2026, confirming compliance with Regulation 45(1) of the SEBI Listing Regulations. The certificate verifies that no name change occurred in the preceding year and that revenue attributable to the activity suggested by the new name accounted for at least 50% of total revenue in the preceding one-year period.

Sachin Bhagwat, a practicing company secretary, has been appointed as the scrutiniser for the postal ballot process. The results will be declared within two working days of the voting closure, on or before September 29, 2026.