Ironwood Education Limited has announced the official voting results for its Extraordinary General Meeting (EGM) held on December 24, 2025, confirming unanimous shareholder approval for all six proposed resolutions. The company submitted the voting results to BSE Limited on December 26, 2025, in compliance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

EGM Proceedings and Voting Process

The meeting was conducted from 3:00 p.m. to 3:32 p.m. IST through video conferencing facility, chaired by Mr. Rakesh Bhatia (DIN: 00008192). The company engaged National Securities Depositories Limited (NSDL) to provide remote e-voting and video conferencing facilities for shareholder participation.

Resolution-wise Voting Results

All six resolutions received 100% approval from participating shareholders, demonstrating strong stakeholder confidence in the company's strategic direction.

Capital Structure Resolutions

The authorized share capital increase from ₹16.00 crores to ₹18.00 crores and preferential allotment of 17,11,670 equity shares at ₹45.00 per share will raise ₹7.70 crores for the company.

Leadership Transition Results

The unanimous approval confirms Mr. Nitish Nagori's transition from Managing Director to Executive Director and Mr. Balaji Raghavan's appointment as Director and Managing Director.

Related Party Transaction Approval

Shareholders approved the material related party transaction worth ₹5.50 crores with AVA Lifespaces LLP for slum redevelopment project with 55,973 votes in favor, achieving 100% approval rate.

Current Financial Strength

The company's robust financial position supports these strategic initiatives:

Regulatory Compliance and Next Steps

The voting results were compiled by scrutinizer Sonali Gamne Associates and submitted to BSE Limited within the prescribed timeline. The company has fulfilled all regulatory requirements under the Companies Act 2013 and SEBI regulations. The approved resolutions will now be implemented as per the timeline specified in the EGM notice, strengthening the company's capital base and leadership structure for future growth initiatives.

Ironwood Education Limited has successfully met the mandatory 25% minimum public shareholding requirement, a crucial compliance milestone for listed companies in India. This development comes as a result of a strategic share sale by three of the company's promoters.

Share Sale Details

The company disclosed that three promoters - Balaji Raghavan, Manoj Shankar Tripathi, and Nitish Nagori - collectively sold 2,46,977 equity shares, representing 1.64% of the total equity share capital. The transactions were executed on November 4 and 6, 2025, through BSE's designated window mechanism.

Impact on Shareholding Structure

The share sale has resulted in a significant shift in the company's shareholding pattern:

This adjustment in shareholding has brought Ironwood Education into compliance with the Securities Contracts Regulation Rules and SEBI Listing Regulations, which mandate a minimum public shareholding of 25% for listed companies.

Regulatory Compliance

The share sale was conducted in accordance with SEBI's circular dated January 10, 2023, which outlines the "Comprehensive Framework on Offer for Sale (OFS) of Shares through Stock Exchange Mechanism". This framework ensures transparency and fairness in such transactions.

Company's Statement

In its regulatory filing, Ironwood Education stated, "Accordingly, the Company has become compliant with the minimum public shareholding requirements of 25% as mandated under rules 19(2)(b) and 19A of the Securities Contracts (Regulation) Rules 1957, read with Regulation 38 of the Listing Regulations."

Upcoming Board Meeting

In a separate announcement, Ironwood Education has informed that its Board of Directors will meet on Thursday, November 13, 2025, to review and record the unaudited financial results for the quarter and six months ended September 30, 2025, both on a standalone and consolidated basis.

Trading Window Closure

As per the company's Code of Conduct for Prevention of Insider Trading, the trading window for dealing in the company's securities will remain closed until November 15, 2025. This closure applies to all Directors, Promoters, Designated Employees, specified connected persons, their immediate relatives, and the Material Subsidiary of the Company.

This strategic move by Ironwood Education not only ensures regulatory compliance but also potentially enhances the liquidity of its shares in the market.