Ratnaveer Precision Engineering Limited has announced a key board change with the resignation of Ms. Binita Veridia from her position as Non-Executive Non-Independent Director. The resignation, submitted on May 01, 2026, will become effective on May 27, 2026.

Director Resignation Details

Ms. Binita Veridia (DIN: 09724262) submitted her resignation via email on May 01, 2026, citing personal commitments as the primary reason for her departure from the board. The director has confirmed that there are no other material reasons for her resignation beyond those stated in her resignation letter.

Regulatory Compliance

The company has fulfilled its regulatory obligations by making the necessary disclosures under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made to both the National Stock Exchange of India Limited and BSE Limited.

As per the regulatory requirements, Ms. Veridia does not hold directorships in any other listed entities, and there are no additional board committee memberships to report.

Management Statement

The resignation was formally accepted by the company's Managing Director, Vijay Sanghavi (DIN: 00495922), who digitally signed the acceptance on May 01, 2026. In her resignation letter, Ms. Veridia expressed appreciation for the cooperation, support, and trust extended by the board and management team during her tenure.

Company Background

Ratnaveer Precision Engineering Limited, formerly known as Ratnaveer Metals Limited, operates with its plant located at E-77, G.I.D.C. Savli (Manjusar), District Vadodara, Gujarat. The company's corporate office is situated at Ocean Complex, Vikram Sarabhai Campus, Vadi Wadi, Vadodara.

Ratnaveer Precision Engineering's board of directors has approved a comprehensive capital restructuring initiative in compliance with SEBI Listing Regulations. The board meeting held on April 28, 2026, from 3:00 PM to 3:55 PM IST, resulted in key decisions including a fundraising proposal of up to ₹330 crore, increase in authorised share capital, and appointment of a new executive director.

Fundraising Approval

The Ratnaveer Precision Engineering board has authorized raising funds up to ₹330 crore through the issuance of equity shares or other eligible securities. The fundraising will be conducted through permissible modes including Qualified Institutions Placements (QIP), Preferential Issue, Rights Issue, Private Placement, Bonds, Debentures, Follow-On Public Offer (FPO), Global Depository Receipts (GDR), Foreign Currency Convertible Bonds (FCCB), or any combination of these methods. The proposal is subject to regulatory and statutory approvals and requires shareholder approval through an Extra Ordinary General Meeting.

Authorised Share Capital Increase

The board approved increasing the authorised share capital from ₹85,00,00,000 to ₹1,13,00,00,000, subject to member approval. This increase involves the alteration of capital Clause V of the Memorandum of Association. The equity shares component will increase from 8,20,00,000 shares to 11,00,00,000 shares of ₹10 each, while preference shares remain unchanged at 30,00,000 shares of ₹10 each.

Director Appointment

Based on the recommendations of the Nomination and Remuneration Committee and subject to shareholder approval, Mrs. Seema Vijay Sanghavi (DIN: 11046663) has been appointed as an Additional Director, designated as Executive Director of the company for a period of five years effective from April 28, 2026. Mrs. Sanghavi is associated with the company as chief sales coordinator and has expertise in handling sales and marketing matters with comprehensive knowledge of ferrous and non-ferrous metal business. She is the wife of Mr. Vijay Sanghavi, Managing Director of the company.

Extra Ordinary General Meeting

The board has convened an Extra Ordinary General Meeting (EGM) on Saturday, May 30, 2026 at 12:00 noon through VC/OAVM. The notice of EGM will be shared in due course. The meeting will seek shareholder approval for the proposed increase in authorised share capital, fundraising proposal, and the appointment of Mrs. Seema Vijay Sanghavi as Executive Director. The company has confirmed compliance with all SEBI circular requirements and regulatory disclosures.