Gujarat Kidney and Super Speciality Limited has secured shareholder approval to alter the objects and terms of utilisation for its Initial Public Offering (IPO) proceeds. The special resolution was passed via a postal ballot conducted through remote e-voting, which concluded on July 04, 2026. This decision authorises the company to modify the deployment of funds raised during its public issue.

The resolution received overwhelming support, with 99.9995% of the total valid votes cast in favour. A total of 56,894,699 votes were polled in favour, while 286 votes were cast against the proposal. The voting process was managed by MUFG Intime India Private Limited, and the scrutinizer's report confirmed the results.

Voting Breakdown

The participation was spread across different shareholder categories, with the promoter group casting all their votes in favour of the resolution. Public non-institutions showed significant support, with 99.9441% of the votes polled from this category favouring the change.

Procedural Details

The remote e-voting process commenced on June 05, 2026, and concluded on July 04, 2026. The cut-off date for determining shareholder eligibility was May 29, 2026. Ashish Doshi, Partner of SPANJ & Associates, Company Secretaries, served as the scrutinizer for the postal ballot process. The company disclosed that no votes were declared invalid or abstained from the voting process.

Gujarat Kidney And Superspeciality Limited has initiated a remote e-voting process to seek shareholder approval for the variation in the utilization of its Initial Public Offering (IPO) proceeds. The resolution, classified as a Special Resolution, proposes to reallocate unutilized funds amounting to Rs 37.76 crore. The e-voting facility is open from 9 a.m. on Friday, June 05, 2026, to 5 p.m. on Saturday, July 04, 2026.

The company filed the Postal Ballot Notice with BSE Limited and the National Stock Exchange of India Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was published in The Financial Express (English, Ahmedabad edition) and Gujarat Mitra (Gujarati, Vadodara Edition). The communication was signed by Pragnesh Bharpoda, Managing Director, on June 4, 2026.

Proposed Variation in Objects

The Board proposes to modify the objects of the IPO proceeds to enhance infrastructure and facilities in its subsidiary, Raj Palmland Hospital Private Limited, and the parent company. Specifically, the company plans to utilize Rs 6.12 crore from the healthcare expansion object for investing in new infrastructure on lease, installing equipment, and creating an IVF facility. The remaining balance of Rs 19.02 crore from this object will be transferred to the object for funding inorganic growth through unidentified acquisitions and general corporate purposes, increasing the total allocation for that head to Rs 31.64 crore.

The company stated that the first variation approved by shareholders on April 25, 2026, involved incorporating a wholly-owned subsidiary in Bharuch. However, realizing it already has two subsidiaries there, the Board decided to avoid duplication of efforts and investment. Instead, it will enhance the infrastructure of Raj Palmland Hospital Private Limited and develop an IVF facility in the parent company, Gujarat Kidney Super Speciality Hospital at Vadodara. The Board will be authorized to finalize vendors and investment terms.

Utilization Status

The following table details the utilization of IPO proceeds as of May 29, 2026:

E-Voting and Scrutiny Details

Members of the company whose names appear in the Register of Members as of the Cut-off Date, Friday, May 29, 2026, are eligible to vote. The company has engaged MUFG Intime India Private Limited as the Registrar and Transfer Agents to facilitate the remote e-voting process. M/s SPANJ & Associates, Practicing Company Secretaries, has been appointed as the Scrutinizer to ensure the process is conducted fairly. The results will be announced on or before July 07, 2026.