RDB Infrastructure and Power Limited has entered into a Memorandum of Understanding (MoU) to acquire additional equity in Maxim Industries Private Limited, raising its total stake from 29% to 45%. The transaction, executed on October 6, 2026, involves purchasing shares from Samvik Power Private Limited for a consideration of ₹2.40 lakh.

This development follows earlier intimations dated June 3, 2026, and June 30, 2026, regarding the initial investment and the execution of a Shareholders' Agreement with Maxim Industries. The current agreement is specifically structured as a share purchase from one of the existing shareholders, Samvik Power Private Limited.

Transaction details

The company disclosed the specifics of the deal under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The acquisition is intended solely to increase the equity stake in Maxim Industries Private Limited. The parties involved are RDB Infrastructure and Power Limited as the purchaser and Samvik Power Private Limited as the seller.

Regulatory and completion status

The disclosure confirms that no governmental or regulatory approvals are required for this acquisition. Furthermore, the transaction does not fall within related party transactions, as the seller is not related to the promoter or promoter group. The completion of the acquisition is contingent upon the transfer of shares and payment of consideration.

What the numbers show

The step-up in equity holding from 29% to 45% represents a significant consolidation of interest in Maxim Industries Private Limited. While the absolute cash outlay of ₹2.40 lakh appears nominal relative to typical corporate acquisitions, the move signals a strategic intent to deepen involvement in the target entity's operations without necessarily seeking full control (which would typically require exceeding 50%). The absence of regulatory hurdles and the arm's-length nature of the transaction suggest a straightforward execution path.

RDB Infrastructure and Power Limited confirmed that all five resolutions at its 20th Annual General Meeting, held on September 26, 2026 via Video Conferencing, were passed with the requisite majority, as per the Scrutinizer's Report submitted on the same date.

The AGM, which commenced at 11:30 am and concluded at 12:20 pm, was attended by 50 members through video conferencing — 12 from the promoter and promoter group, and 38 from the public. The record date for voting eligibility was September 19, 2026, on which the total number of shareholders stood at 10,014. Remote e-voting was open from September 23 to September 25, 2026, and e-voting was also available during the AGM via the NSDL platform.

Key resolutions passed

The meeting transacted three ordinary and two special business items. The following table summarises the resolutions and their outcomes:

Voting results in detail

A total of 104 members representing 13,58,91,824 equity shares cast their votes through e-voting across all resolutions. For Resolution 3 (material related party transaction), votes cast by 2 members representing 1,69,71,000 equity shares were excluded as the members were interested parties. The promoter and promoter group were noted as interested in Resolution 3.

The table below presents the consolidated voting data for each resolution:

The total outstanding shares across all categories stood at 22,36,59,000, comprising 14,87,04,570 shares held by the promoter and promoter group, 45,00,000 by public institutions, and 7,04,54,430 by public non-institutions.

Governance and scrutinizer details

The meeting was chaired by Rajeev Kumar, Chairperson and Whole-Time Director. CS Prachi Bhartia of Prachi Bhartia & Associates (Membership No. A53022, COP No. 22964) served as Scrutinizer, appointed by the Board on August 8, 2026. The Scrutinizer's report was issued to the company on September 26, 2026. Votes were unblocked on September 26, 2026 at around 1:43 pm in the presence of two witnesses, Harshvardhan Chaturvedi and Rohit Upadhyay, neither of whom is in the employment of the company. Managing Director Shubham Vaidya submitted the voting results to the stock exchanges on September 27, 2026.