Foseco India Shareholders Overwhelmingly Approve Key Resolutions at EGM
Foseco India Limited held its Extraordinary General Meeting on September 21, 2025, via video conferencing. Shareholders overwhelmingly approved four critical resolutions: preferential equity share allotment (99.98% in favor), increase in authorized share capital (99.98%), appointment of Manuel Antonio Delfino Aguilera as non-executive director (99.98%), and expansion of investment limits (99.86%). The meeting saw participation from 38 shareholders out of 13,957, with remote e-voting available. The strong support signals confidence in the company's strategic direction and provides financial flexibility for future growth initiatives.
*this image is generated using AI for illustrative purposes only.
Foseco India Limited , a leading manufacturer of foundry chemicals, held its first Extraordinary General Meeting (EGM) on September 21, 2025, through video conferencing. The meeting saw strong participation from shareholders, who voted on four critical resolutions that could shape the company's future trajectory.
Shareholder Participation and Voting Process
The EGM attracted significant attention from the company's investor base. Out of 13,957 total shareholders on the cut-off date, 38 attended the meeting via video conference, including three from the promoter and promoter group. Foseco India facilitated remote e-voting from September 18-20, 2025, with additional e-voting available during the meeting to ensure maximum participation.
Key Resolutions Passed
All four resolutions presented at the EGM received overwhelming support from shareholders:
Preferential Equity Share Allotment: This special resolution, aimed at issuing, offering, and allotting equity shares on a preferential basis, secured 99.98% votes in favor.
Increase in Authorized Share Capital: The ordinary resolution to increase the authorized share capital and amend the Capital Clause of the Memorandum of Association passed with 99.98% approval.
Appointment of New Director: Shareholders approved the appointment of Manuel Antonio Delfino Aguilera as a non-executive non-independent director with 99.98% votes in favor.
Investment Limit Expansion: A special resolution to approve investing company funds beyond statutory limits under Section 186 of the Companies Act, 2013, received 99.86% support.
Voting Breakdown
The voting results demonstrated strong backing across all shareholder categories:
| Resolution | Promoter & Promoter Group | Public Institutions | Public Non-Institutions |
|---|---|---|---|
| 1 | 100.00% | 100.00% | 99.85% |
| 2 | 100.00% | 100.00% | 99.85% |
| 3 | 100.00% | 100.00% | 99.85% |
| 4 | 100.00% | 85.06% | 99.96% |
Implications and Next Steps
The strong shareholder support for these resolutions signals confidence in Foseco India's strategic direction. The approval for preferential share allotment and increased investment limits could provide the company with additional financial flexibility for future growth initiatives.
The appointment of Manuel Antonio Delfino Aguilera to the board brings new expertise to the company's leadership. His role as a non-executive director is expected to contribute to Foseco India's governance and strategic decision-making processes.
With these resolutions passed, Foseco India is now positioned to implement its plans, potentially leading to enhanced shareholder value and strengthened market position in the foundry chemicals sector.
The company's commitment to transparency was evident in the detailed scrutinizer's report provided by Jayavant B. Bhave, ensuring a fair and transparent voting process for all shareholders.
Historical Stock Returns for Foseco
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.53% | -4.11% | -10.82% | +65.54% | +20.80% | +366.69% |
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