Promoter Pradeep Jain has disposed of his entire equity holding in Rajasthan Tube Manufacturing , selling 15,96,860 shares representing 3.54% of the company’s voting capital.

The off-market transaction was executed on August 25, 2026, and disclosed to the BSE Limited on August 26, 2026, under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details

Jain’s pre-transaction holding consisted solely of 15,96,860 shares carrying voting rights. There were no encumbrances, pledges, or convertible securities associated with this stake prior to the sale.

The total equity share capital of Rajasthan Tube Manufacturing remained unchanged at 4,50,78,000 shares following the disposal. The transaction mode was specified as an off-market sale.

What the Numbers Show

The complete exit by a promoter entity signals a definitive change in the shareholder structure for this specific block. With Jain’s holding dropping from 3.54% to zero, the promoter group’s aggregate stake in the company has decreased proportionally, though the filing does not disclose the broader promoter group holdings or the identity of the buyer.

Rajasthan Tube Manufacturing Company Limited shareholders overwhelmingly approved key corporate actions at an extra-ordinary general meeting (EGM) held on August 20, 2026. The resolutions included the issuance of warrants on a preferential basis and the regularization of two independent directors.

The meeting, conducted via video conference and other audio-visual means, saw 78 members in attendance. The requisite quorum under the Companies Act, 2013 was present throughout the proceedings. Mr. Mahendra Soni chaired the meeting after being proposed by Company Secretary Saurabh Prydarshi.

Resolutions Approved

Shareholders voted on five resolutions placed before them. The outcomes are detailed below:

Remote e-voting commenced on August 17, 2026, and concluded on August 19, 2026. Ms. Prachi Bansal served as the scrutinizer for the voting process.

Voting Details

As per the scrutinizer's report, the cut-off date for voting eligibility was August 13, 2026. The total number of shareholders on the record date was 5,337, comprising 6 promoters and 5,331 public shareholders.

Total votes polled were 18,592 out of 4,50,78,000 outstanding shares, representing a poll percentage of 0.041%. All votes were cast via remote e-voting through the National Securities Depository Limited (NSDL) platform. No votes were cast during the physical meeting or via postal ballot.

Promoters and the promoter group, holding 75,71,130 shares (approximately 16.8% of total equity), did not participate in the voting for any of the resolutions. The entire voting activity originated from the public non-institutional category, which holds 3,75,06,870 shares.

What the Numbers Show

The near-unanimous approval (99.94%) across all five resolutions indicates strong alignment among participating public shareholders regarding the company's strategic direction and governance changes. Notably, the complete absence of promoter participation in the vote suggests that the controlling shareholders may have abstained to avoid conflict of interest declarations or simply did not engage in the remote process, leaving the outcome entirely dependent on retail and institutional public investors.