Vivid Mercantile Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving a resolution to increase the company's authorised share capital. The resolution was passed with requisite majority as mandated under the Companies Act, 2013, with the company officially announcing the results on March 30, 2026.

Postal Ballot Results and Process

The company conducted the postal ballot through remote e-voting mode, with the notice dated 16th February, 2026. The voting process was managed by scrutinizer Neelam Rathi from Neelam Somani & Associates, a practicing company secretary, who submitted the official scrutinizer report on March 28, 2026.

Share Capital Enhancement Details

The approved ordinary resolution authorises the increase of authorised share capital from ₹10,03,00,000 to ₹15,25,00,000. This enhancement involves creating additional ₹5,22,00,000 equity shares of ₹1 each, providing the board with enhanced flexibility for future capital requirements and business expansion initiatives.

Voting Pattern and Results

The resolution received exceptional shareholder support across all categories. A total of 52065565 votes were polled, representing 51.93% of the total outstanding shares of 100256400.

Category-wise Voting Breakdown

Promoter and Promoter Group:

• Shares held: 11833860
• Votes polled: 11831510 (99.98% of holding)
• Votes in favour: 11831510 (100%)
• Votes against: 0

Public - Non Institutions:

• Shares held: 88422540
• Votes polled: 40234055 (45.50% of holding)
• Votes in favour: 40200703 (99.92%)
• Votes against: 33352 (0.08%)

Regulatory Compliance and Communication

The postal ballot was conducted in accordance with MCA Circulars, with the notice sent electronically to members. The company published newspaper advertisements in Business Standard (English) and Jai Hind (Gujarati) on 25th February, 2026, regarding the dispatch of the postal ballot notice.

The resolution enables consequent alteration to Clause V of the company's Memorandum of Association. The company has informed BSE Limited about the voting results under Regulation 30 and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with Managing Director Satishkumar Ramanlal Gajjar signing the official communication.

Vivid Mercantile Limited has successfully concluded its Board of Directors meeting held on March 26, 2026, approving the comprehensive terms for its proposed rights issue of equity shares. The board meeting, which commenced at 4:00 PM and concluded at 5:15 PM at the company's registered office, resulted in the formal approval of the Draft Letter of Offer for submission to BSE Limited and SEBI.

Rights Issue Details Approved

The board has finalized the complete framework for the rights issue, establishing clear terms for existing shareholders:

Current Share Structure and Impact

The rights issue will significantly expand the company's equity base, providing existing shareholders with proportional investment opportunities:

Payment Terms and Process

The board has established a straightforward payment mechanism for the rights issue, with the entire amount payable on application. Shareholders will pay ₹5.00 per rights equity share, comprising ₹1.00 face value and ₹4.00 premium. The record date for determining eligible shareholders will be announced in due course.

Regulatory Compliance and Documentation

The meeting outcome was formally communicated to BSE Limited under Regulation 30 of SEBI (LODR) Regulations, 2015, and Regulation 71 of SEBI (ICDR) Regulations, 2018. Managing Director Satishkumar Ramanlal Gajjar digitally signed the regulatory filing on March 26, 2026, ensuring full compliance with disclosure requirements.

Company Information and Next Steps

Vivid Mercantile Limited, incorporated under CIN L74110GJ1994PLC021483, operates from its registered office at G/19, Hemkut Owners Association, Opp. Capital Comm Centre, Ashram Road, Ahmedabad, Gujarat. The company will now proceed with filing the Draft Letter of Offer with BSE Limited for prior approval and submit it to SEBI for information and website dissemination. The detailed terms, including application procedures and fractional entitlement handling, will be specified in the comprehensive Letter of Offer document.