“We are not proceeding with the current resolution and will shortly bring a fresh, unified proposal for shareholder approval in accordance with the Companies Act, 2013. The revised structure will be announced in the coming days and will not require any application process,” a PRISM spokesperson said.
The company added that this decision reflects its commitment to ‘governance-first growth’, fairness, and long-term value creation for all classes of shareholders.
“The revised structure will reflect our belief that every shareholder deserves equal opportunity in PRISM’s next chapter of growth.” the spokesperson added.
As per the previously proposed bonus resolution, PRISM had announced a bonus issue linked to a potential IPO pathway for equity shareholders. The earlier structure was designed to allow them to participate in the potential upside through an opt-in process, but the new resolution will be applicable to all classes of shareholders without requiring them to apply. This development follows the company’s recent announcement extending the opt-in deadline to November 9 and simplifying the participation process.
