Oriental Rail Infrastructure Limited has published newspaper advertisements confirming the dispatch of its postal ballot notice seeking shareholder approval for reallocating ₹42.04 crores from preferential issue proceeds toward working capital requirements. The company filed the newspaper publication confirmation with BSE Limited on March 31, 2026, pursuant to Regulation 30 and 47 of SEBI Listing Regulations.

Newspaper Publication and Regulatory Compliance

The company published advertisements in Financial Express (English) - All Editions and Navakal (Marathi) on March 31, 2026, confirming the dispatch of postal ballot notice dated March 27, 2026. This publication follows the company's earlier intimation dated March 30, 2026, regarding the issue of the postal ballot notice to members.

Postal Ballot Process and Timeline

The company has engaged National Securities Depository Limited (NSDL) to facilitate the remote e-voting process for shareholders. The postal ballot seeks approval for variation in objects relating to utilization of funds from preferential issue through special resolution.

Fund Utilization and Proposed Variation

The company originally raised ₹212.20 crores through preferential issue in January 2024, comprising 75,00,000 convertible warrants and 50,56,000 equity shares at ₹169 per security. Due to changed geopolitical and macroeconomic conditions, the company seeks to reallocate unutilized funds.

Warrant Conversion Progress

The company has systematically converted warrants into equity shares across multiple tranches. Wazeera S Mithiborwala, categorized as a promoter, received warrant conversions totaling significant equity participation.

Regulatory Monitoring and Compliance

CARE Ratings Limited continues as the appointed monitoring agency for tracking fund utilization under SEBI regulations. The agency's recent report dated February 12, 2026, confirmed current deployment status and validated that unutilized proceeds remain invested in permitted instruments including government securities and scheduled bank deposits.

The proposed variation requires special resolution approval, with the company targeting completion within nine months of shareholder consent. Management expects the reallocation to generate interest cost savings on working capital borrowings and improve future profitability. The postal ballot notice and explanatory statement are available on the company's website and BSE's platform for comprehensive review by eligible shareholders.

Oriental Rail Infrastructure Limited has announced a board meeting scheduled for March 27, 2026, to address several important corporate governance matters. The company, formerly known as Oriental Veneer Products Limited, has informed the stock exchange about the upcoming deliberations in compliance with regulatory requirements.

Key Agenda Items

The board meeting will focus on four primary matters that require directors' consideration and approval:

Preferential Issue Fund Matters

The most significant item on the agenda involves approving variations in the objects relating to fund utilization from the preferential issue. This decision will determine how the company deploys capital raised through its preferential offering, potentially impacting its strategic direction and operational focus.

Shareholder Engagement Process

The board will also consider the draft notice for postal ballot and e-voting process, aimed at seeking shareholders' approval on proposed resolutions. This initiative demonstrates the company's commitment to inclusive corporate governance, allowing shareholders to participate in decision-making through remote voting mechanisms.

Additionally, the appointment of a scrutinizer for the remote e-voting process will ensure transparency and proper oversight of the shareholder voting procedure. The scrutinizer will play a crucial role in validating the voting process and providing an independent report on the proceedings.

Regulatory Compliance

The meeting notification was issued in accordance with Regulation 29(1) of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, 2015. Company Secretary and Compliance Officer Hemali Rachh signed the official communication on March 20, 2026, ensuring timely disclosure to the stock exchange and stakeholders.