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.

Rasi Electrodes Ltd will convene a board meeting on June 29, 2026, to approve a long-term solar power agreement with a related party, following shareholder authorization obtained earlier this year. The meeting, scheduled for 12.15 p.m., will also consider the scrutinizer report on the postal ballot process which closed on June 27, 2026, and the Chairman's declaration of the results.

The board intends to grant approval for an agreement with Kashyap Wire Products, a proprietorship entity where Mrs. Manjula Kothari, wife of the Managing Director, is the proprietrix. This contract involves providing solar power for a period of five years for the exclusive use of wiredrawing of raw materials required by the company for its manufacturing operations.

Shareholders had previously approved the company entering into this contract through the postal ballot and electronic voting process on March 31, 2026. The upcoming board meeting is specifically to approve the finalized terms of the agreement with the related entity.

Agenda Details

The primary items on the agenda for the board meeting include:

• Consideration of the Scrutiniser Report on the Postal Ballot conducted through electronic voting.
• Approval of the Chairman's Declaration regarding the Postal Ballot Results.
• Granting approval to the agreement for entering into the long-term related party contract for solar power with Kashyap Wire Products.

The meeting will also cover any other matters with the permission of the Chairman and Independent Directors.