Rasi Electrodes Limited approved the sale of unencumbered landed property measuring 2.277 acres in Manjankaranai Village, Tamil Nadu, for a total consideration of ₹300 lakhs. The transaction, representing 7.72% of the company's net worth as on March 31, 2026, was approved by the Board on July 16, 2026. The property, comprising vacant land across several survey numbers, will be sold to an identified purchaser who is not a related party.

The Board took on record the consent accorded by shareholders through Postal Ballot and Electronic Voting under Section 180(1)(a) of the Companies Act, 2013. The approval process included the evaluation and recommendation of the Audit Committee of the Board held earlier on the same day. The Managing Director has been authorised to enter into an Agreement for Sale with the purchaser and conclude the transaction.

The company stated that the consideration is realisable as per the terms and conditions agreed upon in the Agreement for Sale. The total net worth as per the last audited financial statements as on March 31, 2026, stood at ₹3885.24 lakhs. The transaction value exceeds 2% of the net worth, triggering the disclosure requirement under SEBI (LODR) Regulations, 2015.

In a regulatory disclosure, the company noted that the trading window is currently closed from July 1, 2026, to August 16, 2026, for the purpose of considering the Unaudited Financial Results for the quarter ended June 30, 2026. Consequently, the company stated that no separate initiation of the trading window closure is required for this event under the Listing Regulations.

The company confirmed that necessary entries as required under the Structured Digital Disclosure (SDD) mandate of SEBI (Prohibition of Insider Trading) Regulations have been recorded, and intimations to insiders have been duly given for this Unpublished Price Sensitive Information (UPSI) event.

Rasi Electrodes Limited has received shareholder approval to sell or dispose of unencumbered landed property registered in the company's name. The special resolution was passed via a postal ballot through electronic voting, with 99.70% of the total votes cast favouring the proposal.

The voting process was conducted by Central Depository Services (India) Limited (CDSL) under the electronic voting system number (EVSN) 260518005. The voting window was open from May 27, 2026, to June 27, 2026, with the record date set as May 15, 2026. The scrutinizer for the process was Gopikrishnan Madanagopal, a Practicing Company Secretary.

Voting Details

A total of 57 members participated in the electronic voting process, representing 8,110,301 shares. The resolution required a special majority, which was secured with 8,085,820 votes in favour and 24,481 votes against. Promoters and the Promoter Group cast 7,057,795 votes, all in favour of the resolution.

The total number of issued shares was 31,130,500. However, 8,700 equity shares were excluded from the voting rights determination as they were lying unclaimed in a separate demat account, reducing the total voting rights considered for the ballot to 31,121,800 shares.

Resolution Outcome

The results were declared on June 29, 2026, by B Ranjit Kumar Kothari, Chairman of the Postal Ballot Process. The detailed voting results are summarised below:

The company stated that the special resolution was passed with the requisite majority, authorising the Board of Directors to proceed with the sale of the property.