Jindal Photo Ltd

Delisting resolution outcomes

• Purpose: Approve voluntary delisting of equity shares from BSE and NSE under Delisting Regulations, 2021.
• Resolution: Special; voting mode: e-voting and postal ballot.
• Overall outcome: Approved; shares polled 9,071,840; in favour 9,062,559; against 9,281.
• Promoter group outcome: 7,612,143 in favour; 0 against; 100% in favour.
• Public non-institutions: 1,450,320 in favour; 9,257 against; 55.19% polled; 0.64% against.
• Public institutions: 0 votes polled; no impact.
• Voting window: Jul 20, 2026 to Aug 18, 2026.
• Impact: Delisting may affect liquidity and shareholding structure; requires regulatory approvals.

AGM Details

• 23rd AGM scheduled for Monday, September 21, 2026 at 2:00 PM via VC/OAVM.
• Notice and annual report for FY ended March 31, 2026 will be sent electronically to registered emails.

Board outcomes & financials

• Board approved unaudited standalone and consolidated results for quarter ended June 30, 2026.
• Limited review reports issued by Suresh Kumar Mittal & Co for both sets.
• 23rd AGM fixed for 21 September 2026 at 2:00 PM via VC/OAVM.
• Cut-off date for AGM eligibility: 14 September 2026; e-voting: 18–20 September 2026.
• AGM notices and governance reports to be published on the company website.
• Meeting duration: started 03:00 PM, concluded 03:50 PM.
• Emphasis of matter on non-provision of doubtful loans and MCCL recoveries.
• Group PAT and total comprehensive income reported; some associates/JV not reviewed.
• Compensation dispute: MCCL claim; Nominated Authority proposes Rs 15,519 Lakhs; writ petitions filed.

Meeting Details

• Board meeting on August 13, 2026 to consider standalone and consolidated limited reviewed results for June 30, 2026.

Key Agenda Items

• Consider and approve standalone and consolidated limited reviewed financial results for the quarter ended June 30, 2026.

Other Notes

• Trading window remains closed till 48 hours after the declaration of results for quarter ended June 30, 2026.

Delisting resolution

• Purpose: Special Resolution to voluntarily delist from BSE and NSE.
• Acquirers: Concatenate Power Advest Private Limited and Concatenate Advest Advisory Private Limited; PAC: Jindal India Power Limited.
• Shareholding targeted: 26,46,183 shares (25.80% of paid-up capital).
• Regulatory base: Delisting Regulations, Companies Act, and stock exchange approvals.
• Board approval: July 16, 2026; subject to member postal ballot.
• Floor price: ₹1,119.50; Indicative price: ₹1,120 per share.
• Final price via reverse book building to reach 90% of issued equity.
• Voting mechanics: e-voting and postal ballot; 2x in favour required.
• Cut-off date: 10 July 2026; Voting window: 20 July–18 August 2026.
• Result timing: announced by 20 August 2026; subject to requisite majority.
• Effect: Delisting of shares from BSE/NSE; potential exit for public shareholders.
• Conditions: In-principle/final approvals from stock exchanges and other laws.

Delisting Proposal & Shareholder Approval

• Delisting proposal approved by the Board, subject to shareholder approval under SEBI Delisting Regulations.
• Cut-off date for postal ballot notices fixed at 10 July 2026.
• Notice of postal ballot to be finalized; authorized signatories to finalize related documents.

E-voting Arrangements

• MUFG Intime India appointed as registrar for e-voting and related actions.
• Ms. Pragnya Parimita Pradhan appointed as scrutineer for postal ballot.
• Board authorized to finalize, sign, and issue all documents for the postal ballot.

Pricing & Due Diligence

• Floor price fixed at Rs 1,119.50 per share; indicative price Rs 1,120.
• Delisting DDR dated July 16, 2026 submitted by Bhumika & Co.
• Valuation report by ICON Valuation LLP submitted in support.

Capital Structure Context

• Promoter group holds 74.20%; Acquirers 73.18%; Public 25.80% of equity.
• Top 25 public shareholders as of 15 July 2026 listed.

Compliance & Observations

• DDR confirms compliance with SEBI regulations; no fraudulent practices observed.