Although 63% of participating shareholders supported the resolutions, 37% voted against them. As these were special resolutions, they required at least three times more votes in favour than against to pass, which was not achieved.
Mazagon Dock shares dive 13% as govt to exercises oversubscription option to sell additional 1.18% stake
Mazagon Dock OFS: Mazagon Dock Shipbuilders shares plunged 13% to hit an intraday low of ₹2,207.30 on the BSE on Monday, following the government’s decision