Mangalam Worldwide e-voting opens for 1:10 stock split approval

Mangalam Worldwide Limited has commenced the remote e-voting process for shareholder approval regarding the sub-division of its equity shares and the alteration of its Memorandum of Association. The e-voting period began on May 22, 2026, at 09:00 A.M. IST and will conclude on June 20, 2026, at 05:00 P.M. IST. This corporate action seeks to split each existing equity share with a face value of ₹10 into 10 equity shares of ₹1 each to enhance liquidity and broaden the investor base.

The Board of Directors approved the proposal at its meeting held on May 15, 2026. To facilitate the split, the company requires shareholder consent to alter the Capital Clause (Clause V) of the Memorandum of Association. The cut-off date for determining shareholder eligibility for the postal ballot and e-voting is May 15, 2026. M/s. Manoj Hurkat & Associates has been appointed as the scrutinizer to oversee the voting process, while MUFG Intime India Private Limited is providing the remote e-voting facility through its InstaVOTE Platform.

Share Capital Structure

The proposed sub-division will alter the authorized and paid-up share capital structure without changing the total monetary value. The following table details the pre and post-subdivision capital structure:

Particulars	Pre sub-division No. of shares	Pre sub-division Face Value (Rs.)	Pre sub-division Total	Post sub-division No. of shares	Post sub-division Face Value (Rs.)	Post sub-division Total
Authorized Share Capital
Equity Shares	3,97,50,000	10/-	39,75,00,000	39,75,00,000	1/-	39,75,00,000
0.1% Non-Cumulative Redeemable Preference Shares	47,50,000	10/-	4,75,00,000	47,50,000	10/-	4,75,00,000
Redeemable Preference Shares	28,000	10/-	2,80,000	28,000	10/-	2,80,000
Total	4,45,28,000		44,52,80,000	40,22,78,000		44,52,80,000
Issued, Subscribed and Paid-up Share Capital
Equity Shares	2,97,00,674	10/-	29,70,06,740	29,70,06,740	1/-	29,70,06,740

Voting Process and Disclosures

The company has informed shareholders that physical copies of the Postal Ballot Notice and forms have not been dispatched in compliance with Ministry of Corporate Affairs circulars. Notices were sent electronically only. Shareholders holding shares as on the cut-off date may cast their assent or dissent through the remote e-voting system. The results of the e-voting will be announced within two working days from the conclusion of the voting period.

The record date for the sub-division of equity shares will be intimated to the stock exchanges and shareholders subsequent to obtaining the necessary approvals. The company, which listed on BSE via the direct listing route on May 27, 2026, voluntarily submitted the postal ballot notice to the exchange. The proposed split is also subject to the completion of a pending amalgamation scheme with subsidiary Mangalam Saarloh Private Limited and a proposed preferential issue of convertible warrants.

Newspaper advertisements regarding the Postal Ballot Notice and e-voting information were published in the Ahmedabad edition of the Financial Express (English and Gujarati) on May 19, 2026. These disclosures were made in terms of Section 108 of the Companies Act, 2013, read with Rule 20 of the Companies (Management and Administration) Rules, 2014, and Regulation 30, 44, 47 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.29%	+1.58%	+26.08%	+49.15%	+131.71%	+270.55%

Mangalam Worldwide Limited has commenced the postal ballot process to seek shareholder approval for the proposed sub-division of its equity shares. The company's Board had previously approved the 1:10 stock split, reducing the face value from ₹10 to ₹1 per share, subject to regulatory and shareholder consent.

Postal Ballot Schedule

The remote e-voting period for the postal ballot opened on May 22, 2026, at 09:00 A.M. IST and will conclude on June 20, 2026, at 05:00 P.M. IST. Shareholders recorded in the Register of Members as of the cut-off date, May 15, 2026, are eligible to participate. The company has engaged MUFG Infine India Private Limited to facilitate the e-voting through the InstaVote Platform.

Stock Split and Share Capital

The proposed split aims to enhance liquidity and widen the shareholder base. Following the sub-division, the total authorized share capital will remain unchanged at ₹44,52,80,000, comprising 39,75,00,000 equity shares of ₹1 each. The Board has also approved the alteration of the Capital Clause of the Memorandum of Association to reflect this change.

Parameter	Details
Split Ratio	1:10
Existing Face Value	₹10 per share
Revised Face Value	₹1 per share
Cut-off Date	May 15, 2026
E-Voting Start	May 22, 2026
E-Voting End	June 20, 2026

Financial Performance

Mangalam Worldwide reported a revenue of ₹1,214.98 crore and a Profit After Tax (PAT) of ₹50.14 crore for FY26. The Board has recommended a final dividend of ₹0.30 per equity share for the fiscal year. Additionally, the company is pursuing a direct listing on the Main Board of BSE.

Scrutinizer Appointment

M/s. Manoj Hurkat and Associates, Practicing Company Secretaries, have been appointed as the Scrutinizer to ensure the postal ballot and remote e-voting process is conducted fairly. The results will be announced within two working days after the conclusion of voting.