Riddhi Siddhi Gluco Biols Ltd has accepted the resignation of Pratik Mahendra Shah as Independent Director, effective June 22, 2026. The resignation was submitted due to increased commitments arising from the growth of his own business, which requires greater time, attention, and focus. This change impacts the company's board composition as it continues its operations.

The company disclosed the information in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was also made in accordance with Para 7 and 7B of Schedule III Part A of the regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026.

Resignation Details

Pratik Mahendra Shah confirmed that there are no other material reasons for his resignation beyond the stated business commitments. He expressed gratitude to the Board of Directors for the support and cooperation during his tenure. The resignation was formally accepted by the company on June 22, 2026.

The following table summarizes the key details of the cessation:

Regulatory Compliance

The filing included the letter of resignation and the necessary disclosures as required by the Listing Regulations. The company confirmed that all procedural requirements have been met regarding the intimation to the stock exchanges. The resignation has been recorded in the company's official registers.

Vital Connections LLP, a promoter group shareholder of Riddhi Siddhi Gluco Biols Ltd, will offer 8,23,422 equity shares representing 11.55% of the total paid-up equity share capital on June 22, 2026. The Offer for Sale (OFS) aims to achieve Minimum Public Shareholding (MPS) compliance of 25% as directed by the Securities and Exchange Board of India (SEBI) and the Securities Appellate Tribunal (SAT). The floor price for the offer has been set at ₹730 per equity share.

The OFS will be conducted through a separate window on BSE Limited. Non-retail investors can bid on June 22, 2026 (T Day), while retail investors and non-retail investors carrying forward unallotted bids can participate on June 23, 2026 (T+1 Day). Kotak Securities Limited has been appointed as the seller's broker for the transaction. The offer follows a SAT order dated March 9, 2026, which modified the restraint period on the promoter to six months post-compliance.

The allocation methodology reserves a minimum of 10% of the offer shares for retail investors and 25% for mutual funds and insurance companies. Bidders must deposit 100% of the bid value upfront for non-institutional investors in the non-retail category, while institutional investors have the option to bid without upfront payment. The seller reserves the right to withdraw or cancel the offer if sufficient demand is not received at or above the floor price.

The offer details are summarized below:

The offer is subject to the SEBI OFS Circular and the operational guidelines issued by BSE. Upon completion, the public shareholding is projected to increase to the mandated 25% threshold, with promoters holding the remaining 75%. The company will disclose the outcome to the stock exchanges following the offer.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE249D01019/d28d4d25-af76-4b6b-b66d-8d91b6a22c8f.pdf