One 97 Communications Limited has successfully concluded its postal ballot process, with shareholders demonstrating strong support for corporate governance initiatives. The company announced the voting results on January 29, 2026, following the completion of the remote e-voting process that ended on January 28, 2026.

Overwhelming Shareholder Approval

The postal ballot addressed two critical resolutions concerning the appointment of Ms. Manisha Raj Raisinghani (DIN: 06798956) as a Non-Executive Independent Director. Both resolutions received exceptional shareholder support, reflecting confidence in the proposed appointment.

Comprehensive Voting Participation

The voting process demonstrated significant shareholder engagement across different categories. For the director appointment resolution, 502358391 votes were polled out of 639539256 total shares, representing 78.55% participation. The remuneration resolution saw even higher participation with 503246098 votes polled, accounting for 78.69% of outstanding shares.

Detailed Voting Breakdown - Resolution 1

Regulatory Compliance and Process

The postal ballot was conducted in strict compliance with Section 108 and 110 of the Companies Act, 2013, and related rules. Ashok from VAPN & Associates, appointed as scrutinizer on November 04, 2025, oversaw the entire process to ensure transparency and fairness. The company utilized NSDL's electronic voting platform for the remote e-voting facility.

Key Process Details

Notice Distribution and Communication

The company ensured comprehensive communication by dispatching the postal ballot notice electronically to all eligible shareholders on December 29, 2025. The notice was also published in Financial Express and Jansatta newspapers on December 30, 2025, and made available on the company's website, stock exchange platforms, and NSDL's portal.

Corporate Governance Enhancement

The successful approval of both resolutions strengthens One 97 Communications' board composition with the addition of an independent director. Ms. Manisha Raj Raisinghani's appointment as Non-Executive Independent Director, along with the approved remuneration structure, demonstrates the company's commitment to robust corporate governance practices and regulatory compliance.

One 97 Communications Limited (Paytm) has submitted its quarterly monitoring agency report for the quarter ended December 31, 2025, confirming compliance with regulatory requirements and proper utilization of IPO proceeds. The report, filed on January 29, 2026, under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrates the company's adherence to stated investment objectives.

Monitoring Agency Assessment

Axis Bank Limited, serving as the monitoring agency, reported no deviations from the objects stated in the offer document. The assessment covered various compliance parameters including utilization alignment with offer document disclosures, statutory approvals, and means of finance for disclosed objects.

IPO Proceeds Utilization Status

The company's ₹18,300 crore IPO, conducted from November 8-10, 2021, allocated ₹8,119 crore for specific business objectives. The current utilization status shows strategic deployment across key business areas.

Ecosystem Strengthening Initiatives

The company has fully utilized ₹4,300 crore allocated for growing and strengthening the Paytm ecosystem. This investment was distributed across three key areas:

• Marketing and promotional expenses: ₹761 crore
• Expanding merchant base and partnerships: ₹1,722 crore
• Strengthening technology-powered payments platform: ₹1,817 crore

The complete utilization of funds in this category demonstrates the company's focus on core business expansion and technology enhancement.

Unutilized Funds Management

The remaining ₹2,000 crore, earmarked for new business initiatives, acquisitions and strategic partnerships, remains unutilized and is currently invested in bank deposits and bank balances. These funds are generating a return on investment of 2.27% with multiple maturity dates.

During the quarter ended December 31, 2025, the company received ₹15 crore as interest on fixed deposits, which was transferred from the Axis Bank monitoring agency account to the general purpose bank account.

Regulatory Compliance

The monitoring agency confirmed that all government and statutory approvals related to the stated objects have been obtained. No major deviations were observed compared to earlier monitoring agency reports, and no unfavorable events affecting object viability were identified during the reporting period.