Ratnaveer Precision Engineering Ltd has received in-principle approval from the National Stock Exchange of India Limited and BSE Limited for a proposed rights issue aggregating up to Rs 330 Crores. The approval, granted on July 16, 2026, allows the company to issue equity shares of face value Rs 10 each on a rights basis to eligible shareholders. This capital raise is subject to the company fulfilling specific conditions, including obtaining statutory approvals and complying with SEBI regulations.

The exchanges granted the approval vide reference letters NSE/LIST/55752 and LOD/Right/AM/FIP/522/2026-27. The National Stock Exchange of India Limited and BSE Limited have permitted the company to use their names in the Letter of Offer, provided a specific disclaimer clause is printed after the SEBI disclaimer. The exchanges clarified that this permission does not constitute approval of the letter of offer or certification of its contents.

Conditions for Approval

The in-principle approval is contingent upon Ratnaveer Precision Engineering Ltd meeting several regulatory requirements. The company must file the listing application at the earliest from the date of allotment and secure necessary approvals from statutory authorities such as SEBI, RBI, and MCA. Additionally, the company must comply with all guidelines and regulations issued by the exchanges and statutory authorities.

The exchanges have reserved the right to withdraw the in-principle approval if the information submitted is found to be incomplete, incorrect, misleading, or in contravention of any rules, bye-laws, and regulations. The company is also required to comply with the Companies Act, 2013, and other applicable laws.

Procedural Requirements

Ratnaveer Precision Engineering Ltd must fix a record date for the rights issue, providing at least three working days advance notice to the exchanges. The company is required to disclose the rights issue price to the exchanges at least three working days prior to the record date. Furthermore, the company must ensure that agreements are in place with all depositories for the dematerialization of securities and offer investors the option to receive allotment in dematerialized form.

The Basis of Allotment must be approved by the Designated Stock Exchange, even in cases of under-subscription. The company must also procure a certificate from the Secretarial Auditor confirming Overseas Direct Investment (ODI) compliance on or before filing the listing application.

Issue Details

The company must ensure that the posting of the letter of offer and composite application form is completed before dealings in Letters of Renunciation are permitted on the exchanges. Ratnaveer Precision Engineering Ltd remains responsible for all disclosures made in the offer documents and any consequences arising from non-disclosure or misstatement.

Ratnaveer Precision Engineering Ltd has dispatched the postal ballot notice electronically to seek shareholder approval for the appointment of Mr. Kashyap Ashwinbhai Shah as an Independent Director. The company seeks approval for his appointment for a first term of five consecutive years, effective from May 12, 2026, to May 11, 2031. The resolution requires a Special Resolution to be passed by the members. The company has confirmed the dispatch of the notice through an advertisement published in the Financial Express (English and Gujarati) on July 10, 2026.

The remote e-voting period commenced on July 10, 2026, at 09:00 A.M. IST and will conclude on August 8, 2026, at 05:00 P.M. IST. Shareholders whose names appeared in the Register of Members or List of Beneficial Owners as of July 3, 2026, are eligible to vote. The company has appointed MUFG Intime India Pvt. Ltd to facilitate the remote e-voting facility, and physical copies of the notice have not been dispatched in compliance with MCA Circulars.

Voting Schedule and Process

The company has outlined the specific timeline for the postal ballot process. The results of the voting will be declared within two working days from the conclusion of the e-voting period. If the resolution is approved, it will be deemed to have been passed on the last date of voting, August 8, 2026. M/s. TNT & Associates, Practicing Company Secretaries, has been appointed as the Scrutinizer to oversee the process.

Director Profile

Mr. Kashyap Ashwinbhai Shah (DIN: 02167256) is a Commerce Graduate, LLB (Special), and a Fellow member of the Institute of Company Secretaries of India (ICSI). He is also a registered Insolvency Professional with the Insolvency and Bankruptcy Board of India (IBBI). His expertise includes corporate advisory, transaction audits, corporate compliances, listing compliances, restructuring, and secretarial audits.

The Board of Directors recommends the Special Resolution for the appointment of Mr. Shah. The company has received necessary declarations from him confirming his eligibility and independence under the Companies Act, 2013, and SEBI Listing Regulations. He currently does not hold any shares in Ratnaveer Precision Engineering Ltd.