NewsCorporate ActionsEdvenswa Enterprises Limited Shareholders Approve Promoter Reclassification in EGMEdvenswa Enterprises Limited Shareholders Approve Promoter Reclassification in EGM
Edvenswa Enterprises Limited conducted its Extraordinary General Meeting on January 21, 2026, where shareholders approved the reclassification of Mr. Y. Ramesh Reddy from promoter to public category with 99.9997% votes in favor. The resolution received 14,792,478 supporting votes against only 50 opposing votes, demonstrating strong shareholder confidence in the corporate governance initiative.
*this image is generated using AI for illustrative purposes only.
Edvenswa enterprises successfully concluded its Extraordinary General Meeting on January 21, 2026, with shareholders delivering overwhelming support for a key corporate governance initiative. The meeting, conducted through video conferencing from 11:00 AM to 11:26 AM, addressed the reclassification of a promoter group member to public category status.
Voting Results and Shareholder Participation
The EGM witnessed strong shareholder participation with 44 members attending through video conferencing. The voting process included both remote e-voting conducted from January 18-20, 2026, and e-voting during the meeting itself. BSS & Associates served as the scrutinizer for the voting process, ensuring transparency and compliance with regulatory requirements.
| Voting Category | Votes in Favor | Votes Against | Total Votes Polled |
|---|---|---|---|
| Promoter and Promoter Group | 13,622,500 | 0 | 13,622,500 |
| Public - Non Institutions | 1,169,978 | 50 | 1,170,028 |
| Total | 14,792,478 | 50 | 14,792,528 |
Resolution Details and Regulatory Compliance
The ordinary resolution focused on reclassifying Mr. Y. Ramesh Reddy from the promoter category to public category. This strategic move aligns with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically Regulation 31A. The company had secured necessary regulatory approvals, including a no-objection letter from BSE Limited dated November 25, 2025.
| Parameter | Details |
|---|---|
| Shareholder Name | Mr. Y. Ramesh Reddy |
| Current Category | Promoter |
| Proposed Category | Public |
| Shares Held | 18,96,000 |
| Percentage of Capital | 6.49% |
Overwhelming Shareholder Support
The resolution received exceptional support from shareholders, with 99.9997% of votes cast in favor of the reclassification. Out of 14,792,528 total votes polled, only 50 votes were cast against the proposal, demonstrating strong confidence in the company's corporate governance decisions.
Compliance and Future Obligations
As part of the reclassification process, Mr. Y. Ramesh Reddy has committed to comply with specific conditions outlined in Regulation 31A(3) of SEBI (LODR) Regulations. These include adherence to certain conditions for a minimum period of three years from the reclassification date, ensuring continued regulatory compliance and transparency.
Meeting Administration
The EGM was conducted with proper corporate governance protocols, with Company Secretary Hima Bindu Dulipala overseeing the proceedings. The meeting utilized CDSL's e-voting platform for both remote voting and voting during the meeting. The record date for determining voting eligibility was set as January 14, 2026, with 8,595 total shareholders on record.
Historical Stock Returns for Edvenswa Enterprises
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +8.22% | +1.10% | -5.94% | -32.82% | -45.48% | +297.58% |
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