California Software Company Limited has successfully secured shareholder approval for all five resolutions proposed in its postal ballot, including significant fundraising initiatives totaling ₹200 crores through QIP and USD 100 million through FCCBs. The results were declared on December 19, 2025, by Dr. Mahalingam Vasudevan, Managing Director, at the company's registered office.

Postal Ballot Results Overview

All five resolutions received overwhelming shareholder support with approval rates exceeding 99.97%. The voting process concluded on December 18, 2025, with 119 members participating through the e-voting platform provided by NSDL.

Approved Fundraising Initiatives

Shareholders approved the company's comprehensive fundraising strategy through multiple instruments:

QIP and FCCB Approvals

• QIP Authorization: Up to ₹200 crores through equity shares and convertible securities
• FCCB Issuance: Up to USD 100 million in Foreign Currency Convertible Bonds
• Compliance: All issuances subject to FEMA and RBI guidelines

Capital Structure Enhancement

The authorized share capital increase from ₹175 crores to ₹225 crores was approved, facilitating the proposed fundraising activities. This includes increasing equity shares from 17.10 crore to 22.10 crore shares of ₹10 each.

Voting Participation Details

Corporate Governance Approvals

Shareholders also approved enhanced investment powers under Section 186 of the Companies Act, 2013, enabling the company to make investments, provide loans, guarantees, and security beyond statutory limits. Additionally, Mr. R.S. Chandan (DIN: 08849851) was re-appointed as Independent Director for a second five-year term.

Strategic Implications

Dr. Vasudevan had earlier stated that these fundraising initiatives are designed to strengthen the company's stability and growth, delivering maximum value to stakeholders. The approved funds will support business expansion, customer acquisition, working capital requirements, and strategic growth opportunities in the software sector.

The scrutinizer's report, prepared by Mr. N. Ramanathan of S. Dhanapal Associates, confirmed the validity of all voting procedures and results, ensuring compliance with Companies Act provisions and SEBI regulations.

California Software Company Limited (CALSOFT) has announced a crucial board meeting scheduled for November 14, 2025, to discuss and approve several significant agenda items that could shape the company's future growth trajectory.

Financial Results and Capital Raising Initiatives

The board will consider and approve the unaudited financial results for the quarter and half-year ended September 30, 2025. Alongside this routine financial review, the company has outlined ambitious capital raising plans:

These capital raising initiatives, if approved, could significantly bolster California Software's financial position and provide resources for future growth.

Authorized Share Capital Increase

In line with its capital raising plans, California Software is considering an increase in its authorized share capital to ₹225.00 crores. This move would require amendments to Clause V of the company's Memorandum of Association and is subject to shareholders' approval.

Strategic Expansion Plans

The board meeting agenda also includes evaluating potential acquisitions of both Indian and foreign companies. This strategic move aims to expand California Software's business operations, potentially entering new markets or strengthening its existing portfolio.

Trading Window Closure

As per regulatory requirements, California Software has implemented a trading window closure from October 1, 2025, to November 16, 2025. This closure applies to promoters, directors, key management personnel, and specified employees, ensuring compliance with insider trading regulations.

Implications for Investors

The upcoming board meeting signals California Software's intent to pursue aggressive growth strategies. The proposed capital raising initiatives, if successful, could provide the company with substantial funds for expansion and acquisitions. However, investors should note that these plans are subject to board approval and, in some cases, shareholder consent.

As the company considers these significant moves, stakeholders will be keenly watching for the outcomes of the November 14 meeting and any subsequent announcements regarding the implementation of these initiatives.