RDB Infrastructure and Power Limited has approved the appointment of Mr. Shubham Vaidya as Managing Director following a postal ballot process that concluded on July 06, 2026. The resolution received overwhelming support from shareholders, with 99.99% of votes cast in favour, to regularize his position within the company's leadership structure. The appointment is subject to regulatory approvals.

The remote e-voting process commenced on June 07, 2026, and concluded on July 06, 2026. A total of 118,771,649 votes were polled in favour of the resolution, representing 53.10% of the company's total outstanding shares. The scrutinizer, Mrs. Prachi Bhartia, submitted the report confirming the results on July 08, 2026.

Voting Results Summary

The voting results indicate strong backing from both promoters and public shareholders. Promoter and Promoter Group cast 115,202,340 votes in favour, while Public-Non Institutions contributed 3,569,309 votes. Only 356 votes were cast against the resolution.

The appointment of Mr. Shubham Vaidya (DIN: 11294349) is aimed at regularizing his position as Managing Director. The resolution was passed as a special resolution, requiring a higher threshold of approval. The company has ensured compliance with all regulatory requirements, including SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

RDB Infrastructure and Power Limited has executed a shareholders agreement with Maxim Industries Private Limited and other shareholders to establish a solar cell manufacturing plant in Chhattisgarh. The agreement, dated June 24, 2026, outlines the company's strategy to expand its presence in the renewable energy sector. RDB Infrastructure and Power Limited currently holds a 29% equity stake in Maxim Industries Private Limited, with provisions to acquire an additional 42.50% stake upon the achievement of specified milestones.

The disclosure was made to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The agreement involves Samvik Power Private Limited and Shank Investment Private Limited as the other shareholders. The primary objective of this collaboration is to set up and operate the manufacturing facility in the State of Chhattisgarh.

Key Terms of the Agreement

The shareholders agreement defines the governance structure and rights of the involved parties. RDB Infrastructure and Power Limited has secured the right to appoint an equal number of directors as Shank Investments Private Limited on the board. Initially, the board will comprise one nominee director from each of the three parties involved in the agreement.

Transaction Details

The transaction does not fall under related party transactions, and the parties involved are not related to the promoter or promoter group of RDB Infrastructure and Power Limited. The company confirmed that the agreement is not a related party transaction and is conducted at arm's length. The disclosure was submitted to the Bombay Stock Exchange Limited and The Calcutta Stock Exchange Limited on June 30, 2026.