Exchange Filings

EMIL: Minority Headache

Electronics Mart India Ltd held a postal ballot seeking permission of shareholders to approve the variation in the objects of the IPO of the co.

Around 224 shareholders voted. 26 shareholders voted against the resolution.

Since # of shareholders who voted against the resolution were more than 10% of the total shareholders who voted, the company has to comulsorily make an exit offer to these dissenting shareholders.

The interesting thing is that the total no of shares held by these shareholders is only 2,483 shares…approx only 2L Rs !

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