Sigma Advanced Systems Limited has successfully completed the acquisition of 51% stake in AS Strategic Private Limited, Delhi, India. The transaction follows the fulfillment of condition precedents as outlined in the Share Purchase Agreement previously signed by the company. This development was disclosed to the stock exchanges under Regulation 30 of the Securities and Exchanges Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company had initially informed the exchanges on February 10, 2026, about the signing of the Share Purchase Agreement for the acquisition. Following the completion of all necessary condition precedents, the acquisition has now been finalized, giving Sigma Advanced Systems Limited a controlling 51% shareholding in AS Strategic Private Limited.

Transaction Details

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Part A, Para A of Schedule III of SEBI (LODR) Regulations, 2015. The company has requested both BSE Limited and National Stock Exchange of India Limited to take the information on record. Sigma Advanced Systems Limited is listed on BSE with scrip code 532408 and on NSE with symbol SIGMAADV.

The company, formerly known as Megisoft Limited, is headquartered in Hyderabad, Telangana, with its registered office in Chennai, Tamil Nadu. The acquisition marks a strategic expansion for the company through the addition of AS Strategic Private Limited to its portfolio.

Sigma Advanced Systems Limited has successfully concluded its postal ballot process, announcing comprehensive voting results that demonstrate strong shareholder confidence in the company's governance initiatives. The remote e-voting process, conducted in compliance with regulatory requirements, resulted in overwhelming approval for three critical director appointments.

Voting Process and Participation

The postal ballot notice dated March 16, 2026, facilitated remote e-voting for shareholders holding shares as of the cut-off date of March 13, 2026. The electronic voting commenced on March 17, 2026 at 9:00 a.m. and concluded on April 15, 2026 at 5:00 p.m. (IST), providing shareholders with nearly a month to participate in the decision-making process.

Director Appointment Results

All three resolutions received exceptional shareholder support, with 99.99% of votes cast in favor across all appointments. The voting demonstrated remarkable consistency in shareholder confidence, with only minimal opposition recorded.

Resolution 1: Lt Gen Raju Somashekar Baggavalli Appointment

Shareholders approved the appointment of Lt Gen Raju Somashekar Baggavalli (DIN: 11482140) as Independent Director for a five-year term effective January 16, 2026. This special resolution received comprehensive support across all shareholder categories.

Resolution 2: Amb. Dr. Venkata Nagendra Prasad Thatipamula Appointment

The appointment of Amb. Dr. Venkata Nagendra Prasad Thatipamula (DIN: 11499183) as Independent Director for five years from March 16, 2026, received identical voting support. This special resolution demonstrated consistent shareholder confidence in the company's leadership expansion.

Resolution 3: Mr. Kartheek Raju Chintalapati Appointment

Shareholders approved the ordinary resolution for appointing Mr. Kartheek Raju Chintalapati (DIN: 02921819) as Non-Executive, Non-Independent Director effective March 16, 2026. The voting pattern remained consistent with the previous resolutions, showing unified shareholder support.

Regulatory Compliance and Transparency

The postal ballot process adhered to Section 108 and 110 of the Companies Act, 2013, along with relevant rules and SEBI regulations. M. Damodaran of M Damodaran & Associates LLP served as the appointed Scrutinizer, ensuring transparent and fair conduct throughout the voting process. The scrutinizer's report confirmed that all resolutions were passed with requisite majority, validating the integrity of the electoral process.

Corporate Governance Enhancement

The successful completion of these appointments strengthens Sigma Advanced Systems Limited's board composition with experienced professionals from diverse backgrounds. The addition of military leadership through Lt Gen Baggavalli and diplomatic expertise via Amb. Dr. Thatipamula, alongside Mr. Chintalapati's appointment, reflects the company's commitment to robust governance structures and strategic leadership diversity.