Lamosaic India Limited has announced a significant decision regarding the utilization of funds raised through its Initial Public Offering (IPO). During its Board Meeting held on February 25, 2025, the company’s Board of Directors approved alterations in the terms of the IPO fund allocation, specifically concerning Issue-Related Expenses. This change, however, remains subject to shareholder approval, highlighting the company’s commitment to transparency and regulatory compliance.

As part of this decision, Lamosaic India Limited’s Board has also approved the draft Postal Ballot Notice, which will be circulated to shareholders to obtain their consent for the revised fund utilization plan. In connection with this, the company has designated February 21, 2025, as the cut-off date for determining shareholders eligible to participate in the voting process. This move ensures that only those holding shares on or before the specified date will be able to cast their votes electronically.

To ensure a fair and transparent voting process, the Board has appointed CS Parbat Chaudhari as the official Scrutinizer. Holding ICSI Membership No.: FCS-13321 and COP No.: 22429, Chaudhari will be responsible for overseeing and verifying the results of the postal ballot process. This step reinforces Lamosaic India Limited’s commitment to maintaining corporate governance and regulatory compliance, aligning with SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

The Board Meeting, which commenced at 05:00 p.m. and concluded at 05:42 p.m., was crucial in addressing the strategic financial planning of the company. With this decision, Lamosaic India Limited aims to optimize fund utilization and ensure shareholder participation in key financial matters.

As a company listed on the National Stock Exchange of India (NSE) under the scrip code LAMOSAIC, Lamosaic India Limited remains focused on enhancing transparency, maximizing shareholder value, and ensuring financial efficiency. The company’s proposal to alter IPO fund usage underscores its strategic approach to business growth while adhering to the highest standards of corporate governance.

This announcement comes at a time when investors and shareholders are increasingly vigilant about fund allocations and corporate decisions impacting share value. By ensuring that shareholders have a direct say in the approval process, Lamosaic India Limited continues to uphold its commitment to accountability and investor confidence.

In line with SEBI regulations, the company has taken necessary measures to communicate the details of this alteration to all relevant stakeholders. The postal ballot process will provide shareholders with an opportunity to express their opinions and play an active role in decision-making regarding the fund reallocation.

Market analysts believe that this strategic financial move by Lamosaic India Limited may influence its stock performance and investor sentiment in the coming weeks. As a result, shareholders and market participants will closely monitor the outcome of the postal ballot and any subsequent developments regarding fund utilization.

With the appointment of CS Parbat Chaudhari as Scrutinizer, the voting process will be conducted in an impartial and systematic manner, ensuring compliance with regulatory norms and corporate governance principles. Lamosaic India Limited’s proactive approach towards seeking shareholder consent for changes in fund allocation reflects its dedication to fostering transparency and long-term business sustainability.

As the company moves forward with the postal ballot process, shareholders are encouraged to stay informed about upcoming deadlines, voting procedures, and final outcomes. The results of the postal ballot will ultimately determine whether the proposed changes in IPO fund allocation will be implemented, shaping Lamosaic India Limited’s financial trajectory.

Investors and market observers anticipate further updates from the company regarding the progress of the postal ballot process and its impact on business operations. For now, Lamosaic India Limited’s decision remains a focal point of interest in the corporate and investment landscape.

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