Fineotex Chemical Limited Achieves 99.99% Shareholder Approval at Extraordinary General Meeting in October 2025

Fineotex Chemical Limited recently concluded its Extraordinary General Meeting (EGM) on October 25, 2025, with notable success. Shareholders overwhelmingly approved all three proposals presented during the meeting. These included issuing bonus shares, splitting equity shares, and increasing the authorised share capital. The resolutions received a remarkable 99.99% approval rate, showcasing strong investor confidence.

The meeting saw a total of 74,267,628 votes cast, representing 64.82% of the company's outstanding shares. Promoters, public institutions, and non-institutional shareholders all supported the proposals with minimal opposition. The scrutinizer, Mr. Hemant Shetye of HSPN & Associates LLP, verified the e-voting procedure and results. These were then reported to the BSE and NSE in line with SEBI (LODR) Regulations, 2015.

During a board meeting on September 27, 2025, Fineotex Chemical's directors recommended splitting each Rs 2 equity share into two Rs 1 shares. They also proposed issuing bonus shares in a 4:1 ratio, meaning four bonus shares for every existing Rs 1 share. The record date for these corporate actions is yet to be announced.

The stock split aims to boost share liquidity and affordability, making the company's equity more accessible to retail investors. Post-subdivision, the paid-up and subscribed capital will increase from 11,45,75,090 shares to 22,91,50,180 shares. The face value will be adjusted accordingly.

The authorised share capital will rise from 14 crore shares of Rs 2 each to 120 crore shares of Rs 1 each. Subject to necessary approvals, Fineotex Chemical plans to complete this corporate action by November 25, 2025.

Fineotex Chemical Limited has announced a bonus issue of 4:1. This means shareholders will receive four fully paid-up equity shares of Rs 1 for every existing fully paid-up equity share of Rs 1 they own. The company plans to issue approximately 91,66,00,720 bonus equity shares worth Rs 1 each.

Utilisation of Securities Premium Account

The Securities Premium Account had a balance of Rs 91.66 crore as of March 31, 2025. This account will be utilised for issuing the bonus shares. Following the bonus issue, the company's paid-up and subscribed share capital will increase from 22,91,50,180 shares to 114,57,50,900 shares.

Fineotex Chemical Limited is an international corporation publicly traded and known for producing speciality chemicals used in various applications such as home care, hygiene products, and textiles. Established in 1979 in India, it has expanded its production and research facilities in Ambernath and Navi Mumbai and operates a subsidiary in Malaysia.