SEPC Limited has successfully concluded its postal ballot process, with shareholders approving the variation in Rights Issue proceeds utilization with an overwhelming majority. The company announced the results on March 09, 2026, following the completion of e-voting on March 07, 2026.

Approved Allocation of Rights Issue Proceeds

The shareholders approved the reallocation of Rights Issue proceeds as outlined in the Letter of Offer dated May 22, 2025. The approved utilization structure demonstrates the company's strategic focus on debt management and operational expansion.

Voting Results and Shareholder Participation

The postal ballot witnessed strong shareholder participation, with the special resolution receiving substantial support across all categories of shareholders. The e-voting process was conducted through Central Depository Services (India) Limited (CDSL) platform.

Category-wise Voting Breakdown

The voting results showed unanimous support from promoter and promoter group, while public shareholders also demonstrated strong approval:

• Promoter and Promoter Group: 515607054 votes (100% in favor)
• Public Institutions: 4592557 votes (100% in favor)
• Public Non-Institutions: 3736627 votes (80.03% in favor, 19.97% against)

Regulatory Compliance and Process

The postal ballot was conducted in strict adherence to regulatory requirements under Section 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI LODR Regulations. D. Saravanan, Practicing Company Secretary from Alagar & Associates LLP, served as the scrutinizer to ensure fair and transparent voting.

The company dispatched the postal ballot notice via email on February 05, 2026, to members whose names appeared on the register as of the cut-off date of January 30, 2026. Public advertisements were published in Business Standard (English) and Makkal Kural (Tamil) on February 06, 2026, ensuring wide dissemination of information.

Strategic Implications

The approved variation reflects SEPC Limited's balanced approach toward financial management, combining debt reduction with growth-oriented working capital enhancement. The substantial allocation of Rs. 124.20 crores toward working capital requirements indicates the company's focus on operational expansion and meeting incremental business demands, while the Rs. 15.80 crores earmarked for NCD repayment demonstrates commitment to debt servicing obligations.

SEPC Limited has announced the cancellation of a Letter of Intent (LOI) from Telecommunications Consultants India Limited (TCIL), marking a significant development in the company's recent business activities. The cancellation notice was received on March 03, 2026, just weeks after the company had initially informed exchanges about receiving the LOI.

Background and Timeline

The company had previously notified stock exchanges on February 07, 2026, regarding the receipt of a Letter of Intent from TCIL. However, the business relationship took an unexpected turn when TCIL communicated the cancellation of the same LOI through their letter reference TCIL/DT/DCCS/PSPCL/2026/1 dated March 03, 2026.

Company Response and Next Steps

SEPC Limited has indicated that it is taking appropriate steps regarding this matter. The company has assured stakeholders that it will maintain transparency by keeping stock exchanges informed of any material developments in accordance with SEBI (LODR) Regulations, 2015.

Regulatory Compliance

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's commitment to maintaining proper regulatory compliance and transparency with investors and market participants.

The communication was signed by T Sriraman, Company Secretary & Compliance Officer, and was digitally authenticated on March 03, 2026. This development represents a notable change in the company's recent business prospects and will likely be monitored closely by investors and market analysts.