Sihora Industries Limited shareholders have approved a special resolution to alter the terms of objects of issue proceeds raised through the company’s prospectus dated October 6, 2025. The approval was finalized following a remote e-voting process that concluded on August 17, 2026, with the scrutinizer’s report submitted and results declared on August 18, 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 Results

The voting process was conducted exclusively through remote e-voting via National Securities Depository Limited (NSDL), in compliance with Ministry of Corporate Affairs (MCA) circulars issued between 2020 and 2025. Physical ballot forms were not dispatched.

As of the record date of July 10, 2026, there were 224 shareholders on record. The total equity share capital stood at 5,327,400 shares. Promoters and promoter group held 3,727,400 shares, while public non-institutional shareholders held 1,600,000 shares. No institutional public shareholders were recorded.

Promoters did not participate in the voting process. Among public non-institutional shareholders, 708,000 votes were polled, representing a participation rate of 44.25% of their outstanding shares. Of these, 702,000 votes (99.15%) were cast in favor of the resolution, while 6,000 votes (0.85%) were against it. There were no invalid votes recorded.

Process Compliance

M/s. Hardik Jetani & Associates, Practicing Company Secretaries, was appointed as the scrutinizer for the postal ballot. Hardikkumar Jetani, CS, submitted the scrutinizer report on August 18, 2026, confirming that the conditions under Section 114(2) of the Companies Act, 2013 were fulfilled for the special resolution.

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 NSDL e-voting platform. Those without registered email IDs were directed to submit identification documents to obtain user credentials.

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. The results were communicated to BSE Limited and are available on the company’s website and the NSDL e-voting platform.

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.