Veedol Corporation Limited , a prominent player in the oil and lubricants industry, has made a significant announcement regarding its shareholding structure. The company's Committee of Directors has given the green light for a substantial share acquisition by one of its joint promoters.

Key Details of the Approval

On September 13, 2025, Veedol Corporation's Committee of Directors approved a pre-dealing application submitted by Standard Greases & Specialities Private Limited (SGSPL), a joint promoter of the company. The approval grants SGSPL permission to acquire 871,200 equity shares of Veedol Corporation.

Timeline for the Transaction

The approved transaction comes with a specific timeframe for execution:

• Approval Date: September 13, 2025
• Transaction Window: 5 trading days from September 15 to September 19, 2025
• Deadline: The share acquisition must be completed by September 19, 2025

Current Shareholding and Proposed Acquisition

According to the pre-dealing application submitted by SGSPL:

Market Information

As of the application date (September 12, 2025), the market prices for Veedol Corporation's shares were:

Regulatory Compliance

This share acquisition approval aligns with the regulations set forth by the Securities and Exchange Board of India (SEBI), particularly the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's own Code of Conduct for Prevention of Insider Trading.

The approval process and disclosure demonstrate Veedol Corporation's commitment to transparency and adherence to regulatory requirements in matters of share transactions by promoter entities.

Investors and market watchers will likely keep a close eye on this transaction, as it represents a significant move by one of Veedol Corporation's joint promoters to increase their stake in the company. The successful completion of this acquisition could potentially impact the company's shareholding pattern and may be seen as a vote of confidence in Veedol Corporation's future prospects by its promoter group.

Veedol Corporation Limited, formerly known as Tide Water Oil Company (India) Ltd, has initiated a postal ballot process to seek shareholder approval for a key board appointment. The company is proposing to appoint Brajesh Kumar Srivastava as a Non-Executive and Non-Independent Director, subject to shareholder approval.

Background of the Proposed Director

Brajesh Kumar Srivastava, aged 57, brings a wealth of experience to the Veedol Corporation board. He holds an M.Sc. in Physics and an MBA in Human Resource Management. With over 32 years of service in various ministries of the Government of India, Srivastava has extensive expertise in policy formulation, implementation, operations, human resources, finance, and parliamentary matters.

Current Roles and Reappointment

Srivastava currently serves as Deputy Secretary in the Ministry of Heavy Industries and holds a position as a Nominee Director at Andrew Yule and Company Limited. His journey with Veedol Corporation began on August 13, when he was initially appointed as an Additional Director. However, this appointment ceased after the company's 102nd Annual General Meeting on August 25. The Board subsequently reappointed him on August 26, subject to shareholder approval.

Postal Ballot Details

The postal ballot notice, dated August 26, outlines the following key points:

• Voting Period: August 29 to September 27
• Voting Methods: Shareholders can vote through postal ballot or electronic voting
• Cut-off Date: August 27 (for determining voting rights)
• Results Announcement: Expected on September 27

Implications for Veedol Corporation

The proposed appointment of Srivastava as a Non-Executive and Non-Independent Director is seen as a strategic move by Veedol Corporation. His extensive experience in government operations and policy-making could potentially bring valuable insights to the company's board, particularly in navigating regulatory landscapes and government relations.

Shareholder Action Required

Eligible shareholders are encouraged to participate in the voting process, either through the physical postal ballot form or via the e-voting platform provided by National Securities Depository Limited (NSDL). The company has appointed Manoj Prasad Shaw, a Practicing Company Secretary, as the Scrutinizer to ensure a fair and transparent voting process.

Veedol Corporation Limited, with its registered office at 'Yule House', 8, Dr. Rajendra Prasad Sarani, Kolkata, continues to adapt its leadership structure to meet the evolving needs of the business. The outcome of this postal ballot will be crucial in shaping the company's board composition and potentially its strategic direction in the coming years.