Sigachi Industries seeks shareholder nod for financial strategy shift

Sigachi Industries Limited has announced a postal ballot to seek shareholder consent on four key resolutions, including a deviation in the objects of its initial public issue, increased borrowing limits, and the creation of mortgage or charge on assets. The company proposes to extend the timeline for utilizing IPO funds for the Croscarmellose Sodium (CCS) project at Dahej, Gujarat, until March 31, 2027. This extension impacts an unutilized amount of INR 32.30 Crores earmarked for CCS manufacturing.

Sigachi also seeks to increase the overall limits for loans, guarantees, securities, and investments by the board of directors to an aggregate amount not exceeding INR 1000 Crores. Furthermore, the company aims to increase its borrowing limits and to obtain approval for creating mortgages or charges on its assets, properties, or undertakings, also up to INR 1000 Crores, to support business expansion and capital expenditure.

The e-voting period for these resolutions will commence on Thursday, October 23, 2025, at 9:00 am IST and conclude on Friday, November 21, 2025, at 5:00 pm IST. Results are expected within two working days of the voting period's end.