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.

Ramkrishna Forgings Limited has completed the allotment of 6,40,000 equity shares upon conversion of warrants by promoter entity Riddhi Portfolio Private Limited. The Capital Market Committee approved this conversion on March 27, 2026, marking a significant capital raising exercise for the forging company.

Warrant Conversion Details

The allotment involves the conversion of 6,40,000 warrants that were originally issued on August 14, 2025. The company received Rs. 100.80 crore from Riddhi Portfolio Private Limited at the rate of Rs. 1,575 per warrant, representing 75% of the total warrant issue price.

SEBI SAST Regulatory Disclosure

Following the warrant conversion, Riddhi Portfolio Private Limited filed a disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was submitted to BSE Limited, National Stock Exchange of India Limited, and Ramkrishna Forgings Limited on March 28, 2026.

Capital Structure Impact

Following this allotment, the company's capital structure has been strengthened significantly. The paid-up equity share capital has increased from Rs. 36.21 crore to Rs. 36.33 crore, consisting of 18,16,70,604 fully paid-up equity shares of Rs. 2 each.

Outstanding Warrant Position

The original warrant issuance comprised 9,75,000 warrants to Riddhi Portfolio Private Limited on preferential basis. With the current conversion of 6,40,000 warrants, the company still has 3,35,000 warrants pending conversion from Riddhi Portfolio Private Limited.

Remaining Warrant Structure:

• Warrants Pending Conversion: 3,35,000 (Riddhi Portfolio)
• Additional Warrants Outstanding: 34,00,000 (Mr. Chaitanya Jalan)
• Original Issue Price: Rs. 2,100 per warrant
• Exercise Price: Rs. 1,575 per warrant

Regulatory Compliance

The allotment has been conducted in accordance with SEBI ICDR Regulations and disclosed under Regulation 30 of SEBI LODR Regulations, 2015. The newly allotted equity shares rank pari passu with existing equity shares, ensuring equal rights for all shareholders. The disclosure also reveals encumbered shares totaling 1,23,00,000 shares across promoter entities.