AGI Greenpac recently conducted a voting process among its shareholders to seek approval for raising funds. The company proposed to issue equity shares or other related securities to generate capital for future growth. Voting was conducted through a postal ballot and an online e-voting system.
The process began in December 2024 when AGI Greenpac informed its shareholders about the vote. On January 27, 2025, the voting officially closed, and the results were announced on January 28, 2025. A total of 51,071 shareholders were eligible to participate, and 282 shareholders cast their votes.
The outcome showed strong support for the resolution. Over 42 crore shares were voted, with 98.16% of them in favor of raising funds. Only 1.84% of the votes were against the proposal. This approval allows AGI Greenpac to move forward with its capital-raising plans, which could be used for business expansion or other financial requirements.
Despite this positive development, the company faced an unexpected challenge. The Supreme Court rejected AGI Greenpac’s resolution plan. As a result, the company’s stock saw a sudden decline, even though its financial performance for the quarter was strong.
The approval for raising funds is an important step for AGI Greenpac, but the legal setback has created some uncertainty.