Resonance Specialties Limited shareholders have approved a special resolution to acquire the manufacturing facility of Kaygee Laboratories Private Limited (KLPL) in Mandideep. The transaction, valued at ₹29.98 crore, was passed with overwhelming support from investors during the postal ballot process.

The vote concluded on September 18, 2026, following a remote e-voting period that began on August 20, 2026. The resolution sought approval for the purchase of KLPL's leasehold land, buildings, plant, machinery, licenses, and employees on a slump sale basis.

Voting Results

The scrutinizer's report confirms that the resolution received near-unanimous backing from participating shareholders. A total of 37,867 valid votes were cast by 69 members.

Mr. Alok Khairwar, Practicing Company Secretary, served as the independent scrutinizer for the process. The voting was conducted through the National Securities Depository Limited (NSDL) platform.

What the Numbers Show

The margin of approval highlights strong shareholder confidence in the strategic expansion. With 99.82% of valid votes supporting the acquisition, dissent was minimal, restricted to just 67 votes out of nearly 38,000 cast. This decisive outcome suggests clear alignment between the board's expansion strategy and investor interests regarding the Mandideep facility acquisition.

The company notified BSE Limited of the results on September 21, 2026, pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resolution is deemed passed as of the last date of remote e-voting.

Resonance Specialties has initiated a postal ballot process to seek shareholder approval for the acquisition of a manufacturing facility from its related party, Kaygee Laboratories Private Limited (KLPL). The proposed transaction involves the purchase of KLPL’s manufacturing unit located in Mandideep, Madhya Pradesh, for a lump-sum consideration of ₹29.98 crore on a slump sale basis.

The acquisition includes leasehold land measuring approximately 22,304 square meters, industrial buildings of about 5,227 square meters, along with associated plant machinery, licenses, permits, and employees. Resonance currently sources chemical intermediates and certain Active Pharmaceutical Ingredients (APIs) from this facility under a job work agreement. The company states that acquiring the unit will enable vertical integration, particularly in the field of pyridine, collidines, and their derivatives, while eliminating outsourcing costs.

Transaction Details

The deal is classified as a material related party transaction under SEBI Listing Regulations. The consideration was determined based on a valuation report dated July 24, 2026, issued by S R Valuers, an IBBI-registered valuer. Funding for the acquisition will be sourced partly from internal accruals and partly through borrowings.

Related Party Dynamics

KLPL belongs to the same promoter group as Resonance Specialties. Directors Mr. Prashant Godha and Mr. Charchit Jain serve as directors in both entities. Additionally, KLPL indirectly holds a stake in Resonance through its 14.35% equity holding in Makers Laboratories Limited, which in turn holds 45.48% of Resonance. Another promoter-group entity, Kaygee Investments Private Limited, holds an 8.77% stake in the listed company.

The Audit Committee and Board of Directors have approved the transaction, citing it as arm’s length and in the ordinary course of business. The company notes that the acquisition will reduce the volume of future related party transactions by bringing the manufacturing capability in-house.

What the Numbers Show

The proposed outlay of ₹29.98 crore represents a significant capital commitment relative to the company’s recent scale. The transaction value accounts for 33.22% of Resonance Specialties’ annual turnover for FY25-26. In contrast, the consideration represents 102.25% of KLPL’s total income for FY24-25, which stood at ₹29.32 crore. This divergence highlights that the valuation is driven by the strategic utility and asset base of the manufacturing facility rather than the seller’s standalone revenue generation capacity.

Voting Process

The company completed the electronic dispatch of the Postal Ballot Notice on August 18, 2026. Shareholders as on the cut-off date of August 14, 2026, are eligible to vote. The remote e-voting facility will be available from 9:00 am on August 20, 2026, to 5:00 pm on September 18, 2026, via the National Securities Depository Limited (NSDL) platform. The results will be declared on September 21, 2026.