Vellora Impact Limited has launched a postal ballot process to seek shareholder consent for a significant increase in its authorised share capital, aiming to facilitate a proposed rights issue. The company plans to raise its authorised capital from ₹7,50,00,000 to ₹77,50,00,000 by creating 7,00,00,000 additional equity shares of ₹10 each. This strategic adjustment requires the rescission of a previous special resolution passed on February 20, 2026, allowing the Board to align the capital structure with revised requirements for the upcoming rights offering.

The remote e-voting period for shareholders begins on August 6, 2026, at 9:00 A.M. (IST) and concludes on September 4, 2026, at 5:00 P.M. (IST). Voting rights are determined by shareholding as recorded in the Register of Members or List of Beneficial Owners maintained by National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) as of the cut-off date, July 31, 2026. The company has engaged NSDL to provide the remote e-voting facility, ensuring that only members holding shares on the record date can cast their votes electronically.

Key Resolutions and Capital Structure

The Board of Directors, meeting on July 30, 2026, approved two primary resolutions for shareholder consideration. The first involves rescinding the ordinary resolution passed at the Extra Ordinary General Meeting held on February 20, 2026, which had previously approved an increase in authorised share capital and altered Clause V of the Memorandum of Association. The second resolution seeks approval to increase the authorised share capital to ₹77,50,00,000, divided into 7,75,00,000 equity shares of ₹10 each.

The additional shares will rank pari passu with existing equity shares. Upon approval, Clause V of the Memorandum of Association will be substituted to reflect the new authorised capital limit. The Board has authorised the Company Secretary and directors to file necessary forms with the Registrar of Companies and other statutory authorities to effectuate these changes.

Voting Process and Scrutiny

Ms. Shubhangi Rajkumar Agarwal, Practising Company Secretary, has been appointed as the scrutinizer to ensure a fair and transparent voting process. Shareholders can vote via the NSDL e-voting system using their demat account credentials or physical folio details. Institutional shareholders must submit scanned copies of board resolutions or authority letters to the scrutinizer. The results of the postal ballot, along with the scrutinizer’s report, will be declared on or before September 6, 2026, and communicated to BSE Limited.

Regulatory Compliance

The postal ballot notice is issued pursuant to Section 108 and 110 of the Companies Act, 2013, read with Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014. It also complies with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Secretarial Standard on General Meetings (SS-2). No directors or key managerial personnel have a financial interest in the resolutions beyond their respective shareholdings.

Vellora Impact Limited (formerly Pratiksha Chemicals Limited) has deferred its Rights Issue Committee meeting, originally scheduled for August 4, 2026, as it awaits In-Principle Approval from the Bombay Stock Exchange Limited (BSE) for its ₹70 crore equity fundraising plan. The company notified the exchange on August 5, 2026, that the meeting would not be convened on the planned date because the requisite regulatory clearance was still under process. The committee will now meet within one working day of receiving the approval to finalize the issue price, record date, and entitlement ratio.

The Rights Issue Committee, comprising Sumit Harjibhai Gol, Kishan Rajeshbhai Mendapara, and Khushbu Hemanshu Nadapara, was tasked with determining these key terms following the Board’s approval on July 30, 2026. The Board had previously approved an increase in Authorized Share Capital from ₹7.50 crore (75 lakh shares) to ₹77.50 crore (7.75 crore shares) to accommodate the issuance of equity shares with a face value of ₹10 each. This structural change is essential for the rights issue framework and requires shareholder approval via Postal Ballot through E-voting.

Updated Timeline and Regulatory Status

The rescheduling highlights a procedural dependency rather than a strategic shift in the fundraising approach. The company emphasized that the matters proposed for consideration—fixing the record date, issue price, and other terms—could only be finalized upon receipt of the In-Principle Approval. Consequently, the trading window for designated persons and their immediate relatives, which was closed from July 30, 2026, will remain closed until 48 hours after the rescheduled committee meeting concludes. This ensures compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Promoter Reclassification and Capital Structure

Concurrently, the Board approved the reclassification of several entities from the "Promoter and Promoter Group Category" to the "Public Category" under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This action follows requests dated July 29, 2026, citing the sale of entire shareholdings by most applicants. The reclassification applies to Kantilal Patel, Mukesh Chinubhai Shah, Harish K. Bhatt, Surbhi Harishbhai Bhatt, Harshadbhai K. Patel, Ratnakalaben H. Patel, Jayesh Patel, Purnima Adhvaryu, and Harshad Kantilal Patel HUF. Status updates were also made for Chandraprabha K. Bhatt and Jayesh Bachubhai Chauhan due to their demise, and H B Builders Pvt. Ltd. due to its strike-off from the Register of Companies. These changes are subject to approval from the BSE.

What the Numbers Show

The deferral of the committee meeting underscores the critical role of regulatory timelines in capital market operations. While the strategic intent to raise ₹70 crore via a rights issue remains unchanged, the delay in securing In-Principle Approval introduces uncertainty regarding the final issue price and record date. The substantial increase in authorized capital—from ₹7.50 crore to ₹77.50 crore—indicates that the current ceiling was insufficient not just for the immediate raise but potentially for future flexibility. The simultaneous reclassification of promoter group members implies a significant reduction in promoter holding concentration, likely enhancing public float and liquidity metrics once the process is complete.