Sihora Industries Limited has confirmed that no exit offer is required for dissenting shareholders following the alteration of the issue proceeds’ object terms. This is based on the company achieving 91.83% utilization of total issue proceeds before shareholder approval and the fact that less than ten percent of shareholders voted against the resolution via postal ballot. The details of the single dissenting shareholder have been provided.
Confirmation on Exit Offer Requirements
Sihora Industries Limited has issued a declaration confirming that no exit offer is mandated for dissenting shareholders concerning the alteration in terms of the objects for the issue proceeds raised via a prospectus dated October 06, 2025. This confirmation is in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Basis for No Exit Offer
The company’s decision is founded on two key points:
- The company had already achieved 91.83% utilization of the total issue proceeds prior to obtaining shareholder approval for the alteration of the object terms.
- The proposal for alteration was not dissented by at least ten percent of the shareholders who voted through a postal ballot.
Therefore, the promoter(s) and shareholders in control are not obligated to make an exit offer to those dissenting shareholders who voted against the resolution.
Details of Dissenting Shareholder
In compliance with regulatory requirements, Sihora Industries Limited has submitted the details of shareholders who voted against the resolution. As of the cut-off date, July 10, 2026, one shareholder, KAVIBEN DEVARKHIBHAI KANARA, held 6000 shares and voted against the resolution.
Source: BSE
