Ramkrishna Forgings Limited has issued a postal ballot notice seeking shareholder approval for the appointment of Mr. Chetan Rameshchandra Desai as Non-Executive Independent Director through remote e-voting process. The company has completed the dispatch of postal ballot notices through electronic mode and published newspaper notifications under regulatory compliance.

Postal Ballot Notice and E-Voting Schedule

The company sent the postal ballot notice on March 28, 2026, exclusively through electronic mode to members whose email addresses are registered with the company, depositories, or depository participants. Following the dispatch, Ramkrishna Forgings published newspaper notifications on March 29, 2026, in Financial Express (English, all editions) and Aajkal (Bengali) to inform stakeholders about the completion of notice dispatch.

Regulatory Compliance and Documentation

The company filed a disclosure under Regulation 47 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, regarding the newspaper publication. Company Secretary Rajesh Mundhra submitted the compliance documentation to BSE Limited and National Stock Exchange of India Limited on March 30, 2026.

Board Recommendation for Independent Director

The board of directors, in their meeting held on March 27, 2026, recommended the appointment of Mr. Chetan Rameshchandra Desai as Non-Executive Independent Director based on the Nomination and Remuneration Committee's recommendation.

Professional Background and Expertise

Mr. Desai brings extensive experience with a distinguished career spanning 50 years in corporate governance and financial management. As a Chartered Accountant, he has developed expertise across multiple domains including regulatory compliance, corporate laws, accounting, and auditing. His professional journey includes a significant 39-year association with M/s. Haribhakti & Co. LLP, a leading accounting and strategic consulting firm in Mumbai, where he headed the audit and assurance practice before retiring as Managing Partner in 2018.

E-Voting Process and Member Eligibility

Members whose names appear on the Register of Members as on the cut-off date of March 20, 2026, are eligible to participate in the remote e-voting process. The company has engaged KFin Technologies Limited to provide remote e-voting facility, with detailed instructions provided in the postal ballot notice for different categories of shareholders including those holding securities in demat mode with NSDL, CDSL, and physical mode holders. The company has appointed Mr. Raj Kumar Banthia (ACS 17190), Partner of MKB & Associates, Company Secretaries in Practice, Kolkata, as Scrutinizer for conducting the postal ballot through remote e-voting process.

Riddhi Portfolio Private Limited has acquired 17.50 lakh equity shares of Ramkrishna Forgings Limited from promoter Naresh Jalan through an inter-se transfer completed on March 25, 2026. The transaction was disclosed in compliance with Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Overview

The share acquisition represents an internal restructuring among the promoter group, with shares acquired at ₹495.00 per share. The transfer falls under the exemptions provided under Regulation 10(1)(a)(ii) of the SEBI SAST Regulations, as it constitutes an inter-se transfer among promoters. The transaction value represents 0.97% of the company's total share capital on a non-diluted basis and 0.94% on a fully diluted basis.

Shareholding Pattern Changes

Following the acquisition, Riddhi Portfolio Private Limited's stake increased from 6.06 crore shares (33.45%) to 6.23 crore shares (34.42%). Conversely, Naresh Jalan's individual holding decreased from 45.15 lakh shares (2.49%) to 27.65 lakh shares (1.53%). The aggregate promoter group holding remains unchanged at 43.12%.

Regulatory Compliance and Documentation

The official disclosure was filed on March 30, 2026, by Pawan Kumar Kedia, Director of Riddhi Portfolio Private Limited. The company had previously filed the necessary disclosure under Regulation 10(5) of SEBI SAST Regulations on March 18, 2026. The transaction maintains the overall promoter group holding percentage, ensuring no change in the control structure of the company.

Share Encumbrance Details

Notably, 1.10 crore equity shares held by Riddhi Portfolio Private Limited are in the nature of encumbrance, while 13.00 lakh equity shares held by Naresh Jalan are also encumbered. The company maintains an equity share capital of ₹36.21 crore, consisting of 18.10 crore equity shares with a face value of ₹2.00 each.