Sihora Industries Limited shareholders approved a resolution to alter the terms of objects of issue proceeds raised via the company’s prospectus dated October 6, 2025. The approval was secured through a postal ballot process that concluded on August 17, 2026.

The Board of Directors initiated the postal ballot during its meeting on July 15, 2026, seeking member consent under Section 110 of the Companies Act, 2013 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resolution specifically addressed changes to the utilization of funds raised in the previous year’s public offering.

Voting Process and Compliance

In compliance with multiple Ministry of Corporate Affairs (MCA) circulars issued between 2020 and 2025, the company did not dispatch physical postal ballot forms. Instead, shareholders were instructed to cast their votes exclusively through remote e-voting. The voting window opened on July 19, 2026, at 9:00 am and closed on August 17, 2026, at 5:00 pm.

Shareholders holding shares in physical or demat form were required to register their email addresses with the company or their depository participants to access the voting platform. Those without registered email IDs were directed to submit identification documents, including PAN and Aadhaar cards, to the company’s compliance email or to National Securities Depository Limited (NSDL) to obtain user credentials.

National Securities Depository Limited provided the remote e-voting facility for the process. M/s. Hardik Jetani & Associates, Practicing Company Secretaries, was appointed as the scrutinizer to ensure a fair and transparent conduct of the postal ballot. The scrutinizer was mandated to submit a consolidated report of votes cast in favor or against the resolution within two working days of the voting conclusion.

The results of the postal ballot were declared by the Chairman and communicated to BSE Limited. The outcome is available on the company’s website and the NSDL e-voting platform. The filing confirms adherence to SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2023/167 dated October 7, 2023.

Sihora Industries Limited has initiated a postal ballot process to seek shareholder approval for altering the objects of its issue proceeds raised via the prospectus dated October 06, 2025. The company proposes to utilize ₹63.74 lakh of unutilized IPO proceeds to purchase new machinery, aiming to expand its product portfolio to include zipper chains and finished zippers. The resolution requires shareholder approval via a special resolution, with the remote e-voting period commencing on July 19, 2026, and concluding on August 17, 2026.

The board approved the proposal on July 15, 2026, citing factors such as substantial increases in acquisition costs, foreign exchange fluctuations, and limited commercial viability for cancelling previous equipment purchases. The company has engaged National Securities Depository Limited (NSDL) as the Remote E-Voting Agency, while M/s. Hardik Jetani & Associates, Practicing Company Secretaries, has been appointed as the Scrutinizer. The resolution will be deemed to be passed on the last date of voting, i.e., August 17, 2026, subject to receiving sufficient votes.

The utilization of funds addresses specific unutilized amounts from the issue proceeds. A total of ₹77.08 lakh remained unutilized from the general issue proceeds, of which ₹16.57 lakh is allocated for existing commitments, leaving a balance of ₹60.50 lakh. Additionally, ₹9.24 lakh remained unutilized for market maker payments, with ₹6.00 lakh proposed for future payments and ₹3.24 lakh remaining as a balance. The total unutilized amount available for the new machinery is ₹63.74 lakh.

Utilization of Unutilized IPO Proceeds

The following table details the allocation of the unutilized issue proceeds:

Key Approvals

• Alteration of Objects: Approved to change the terms of the public issue objects stated in the prospectus dated October 06, 2025.
• Machinery Purchase: Approved the purchase of 4 Crochet Knitted Machines, 12 Coiling Machines, and 12 Stitching Machines.
• Postal Ballot: Appointed NSDL as Remote E-Voting Agency and M/s. Hardik Jetani & Associates as Scrutinizer for the postal ballot process.