Nuvama shareholders approve stock split, capital clause alteration

Nuvama Wealth Management Limited announced that its shareholders have approved two key resolutions through a remote e-voting postal ballot. The resolutions, which were deemed passed on December 7, 2025, include the sub-division/split of the company's equity shares and the alteration of the Capital Clause of its Memorandum of Association. The voting results, along with the Scrutinizer's Report, have been made available on the company's website and the e-voting agency's website.

The Scrutinizer's Report, prepared by Nilesh Shah & Associates, confirmed that the e-voting process, which ran from November 8, 2025, to December 7, 2025, was conducted fairly. For the equity share sub-division, 99.99% of valid votes were cast in favour (27,304,499 votes), with 0.01% against. Similarly, for the alteration of the Capital Clause, 99.99% of valid votes were in favour (27,303,327 votes), and 0.01% were against. A total of 127,536 shareholders were eligible to vote as of the record date of November 3, 2025.

The board of directors had approved the postal ballot on November 4, 2025, dispatching notices to members on November 6, 2025. The resolutions received requisite majority approval across Promoter and Promoter Group, Public Institutions, and Public Non-Institutions categories.