RDB Infrastructure and Power Limited announced the cessation of Raju Singh as an Executive Non-Independent Director following his retirement by rotation at the company's 20th Annual General Meeting.

Singh did not seek re-appointment upon retirement, leading to his departure from the Board at the conclusion of the meeting held on September 26, 2026. The vacancy created by his exit will remain unfilled, as decided by the shareholders during the AGM proceedings.

Board composition update

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Singh, identified by Director Identification Number (DIN) 09117852, served as an Executive Non-Independent Director prior to his cessation. The company confirmed that the decision not to fill the vacancy was ratified through the voting results submitted in the scrutiniser's report dated September 26, 2026.

Key details of cessation

The specific circumstances surrounding the director's exit are outlined below:

The Managing Director, Shubham Vaidya, signed the regulatory filing on October 7, 2026, confirming the details for the records of the BSE and Calcutta Stock Exchange.

RDB Infrastructure and Power Limited has entered into a Memorandum of Understanding (MoU) to acquire additional equity in Maxim Industries Private Limited, raising its total stake from 29% to 45%. The transaction, executed on October 6, 2026, involves purchasing shares from Samvik Power Private Limited for a consideration of ₹2.40 lakh.

This development follows earlier intimations dated June 3, 2026, and June 30, 2026, regarding the initial investment and the execution of a Shareholders' Agreement with Maxim Industries. The current agreement is specifically structured as a share purchase from one of the existing shareholders, Samvik Power Private Limited.

Transaction details

The company disclosed the specifics of the deal under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The acquisition is intended solely to increase the equity stake in Maxim Industries Private Limited. The parties involved are RDB Infrastructure and Power Limited as the purchaser and Samvik Power Private Limited as the seller.

Regulatory and completion status

The disclosure confirms that no governmental or regulatory approvals are required for this acquisition. Furthermore, the transaction does not fall within related party transactions, as the seller is not related to the promoter or promoter group. The completion of the acquisition is contingent upon the transfer of shares and payment of consideration.

What the numbers show

The step-up in equity holding from 29% to 45% represents a significant consolidation of interest in Maxim Industries Private Limited. While the absolute cash outlay of ₹2.40 lakh appears nominal relative to typical corporate acquisitions, the move signals a strategic intent to deepen involvement in the target entity's operations without necessarily seeking full control (which would typically require exceeding 50%). The absence of regulatory hurdles and the arm's-length nature of the transaction suggest a straightforward execution path.