Rexnord Electronics & Controls has completed the disinvestment of its entire holding in Rexnord Enterprise Private Limited (REPL) for a total consideration of ₹5.5 crore. The transaction was formalized through a Share Purchase Agreement signed on September 24, 2026, with Jamin Property Developers I Private Limited as the buyer.

The board had initially approved the full divestment of REPL, a wholly owned subsidiary, during a meeting held on September 19, 2026. Following the execution of the agreement, Rexnord Enterprise Private Limited ceases to be a subsidiary of the company. The expected date for the completion of the sale is October 10, 2026.

Transaction Details

The buyer, Jamin Property Developers I Private Limited, is a company incorporated under the Companies Act, 2013, with its registered office in Chennai. The company confirmed that the buyer is not related to the promoter, promoter group, or group companies. Consequently, the transaction does not fall within related party transactions and is conducted at arm's length.

Financial Impact

According to the disclosures made under Regulation 30 of the SEBI (LODR) Regulations, 2015, the financial contribution of the divested entity was minimal. For the financial year ended March 31, 2026, Rexnord Enterprise Private Limited contributed NIL turnover and NIL percentage contribution to the consolidated revenue.

However, the entity contributed an amount of ₹62.77 lakh (INR 62,76,730.90) to the net worth, representing a 0.65% contribution on a basis of consolidated financial statements. The transaction is outside the scope of any Scheme of Arrangement and is not a slump sale.

Regulatory Compliance

The disclosure aligns with Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015. It also complies with SEBI Master Circulars dated January 30, 2026, and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The filing was signed by Chairman and Managing Director Kishorechand Talwar and Director Kewal Talwar.

Rexnord Electronics & Controls has scheduled its 38th Annual General Meeting (AGM) for Wednesday, September 30, 2026. The meeting will address key governance matters, including the ratification of remuneration for cost auditors and the approval of material related-party transactions.

The company issued a notice on September 5, 2026, confirming the date and mode of the gathering. The AGM aims to present and adopt the Annual Report for the Financial Year 2025-26. Shareholders can access the complete report and notice details via the company’s official website.

Meeting Details

Agenda Highlights

The AGM will transact both ordinary and special business. Under ordinary business, shareholders will receive, consider, and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026. Additionally, the meeting will appoint a Director in place of Mr. Mohan Iyer (DIN: 10158806), who retires by rotation and offers himself for re-appointment.

Under special business, the company seeks shareholder approval for two key resolutions:

1. Cost Auditor Remuneration: Ratify the remuneration of M/s. Krishna S & Associates, Cost Accountants, at ₹100,000 per annum (exclusive of taxes and out-of-pocket expenses) for the financial year ending March 31, 2027.
2. Related-Party Transactions: Approve material related-party transactions with M/s. R. K. Management Services for labour and manpower supply services. The aggregate value is capped at ₹15.00 crore per annum for FY26-27 and onwards. These transactions are intended to be carried out in the ordinary course of business on an arm’s length basis.

Regulatory Compliance

In compliance with Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company dispatched letters containing web-links to members who have not registered email addresses with the company, depositories, or the Registrar and Share Transfer Agent (RTA), Bigshare Services Private Limited.

Members holding shares in physical mode are requested to update their KYC and email addresses by submitting prescribed forms such as ISR-1, ISR-2, ISR-3, or SH-13 to the RTA. Those holding dematerialized shares should follow the process advised by their Depository Participant.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE687C01012/8f080552-e470-4f70-a537-668a6b4f8261.pdf