Riddhi Siddhi Gluco Biols Limited has notified BSE Limited of an upcoming Board of Directors meeting, scheduled for Tuesday, May 19, 2026. The intimation, dated May 14, 2026, was filed pursuant to Regulation 29 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Agenda Items

The Board meeting has been convened to address the following matters:

Trading Window Closure

In accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the Company's Code of Conduct for Prohibition of Insider Trading, the Trading Window for dealing in the securities of the Company has been closed for all Designated Persons and their immediate relatives with effect from April 1, 2026. The Trading Window will remain closed until 48 hours after the declaration of financial results for the quarter and financial year ended March 31, 2026.

The intimation was signed by Sharad Jain, Company Secretary (Membership No. F13058), on behalf of Riddhi Siddhi Gluco Biols Limited.

Riddhi Siddhi Gluco Biols has received a formal proposal from promoter Mr. Ganpatraj Lalchand Chowdhary to sell a significant portion of his shareholding through an Offer for Sale (OFS) mechanism. The proposal, communicated on 8th April, 2026, aims to ensure compliance with minimum public shareholding norms following regulatory directions.

Proposed Share Sale Details

The promoter has expressed intention to divest 8,23,422 equity shares through the OFS mechanism via stock exchange platform. This represents a substantial portion of the company's equity base and demonstrates commitment to regulatory compliance.

Post-OFS Shareholding Structure

Upon completion of the proposed OFS, the company's shareholding pattern will be restructured to meet regulatory requirements. The distribution will achieve the mandatory minimum public shareholding threshold.

Regulatory Background

The OFS proposal stems from compliance requirements following a Securities Appellate Tribunal order dated 9th March, 2026. This order modified earlier SEBI directions regarding minimum public shareholding compliance that were originally issued on 11th August, 2021. The SAT order specifically reduced the restraint period from two years after MPS compliance to six months after such compliance.

The original SEBI order had directed the company to comply with MPS requirements within five months and imposed certain restraints on market access until compliance was achieved. The company had challenged these directions before the Securities Appellate Tribunal through Appeal Nos. 543 and 588 of 2021.

Next Steps and Approvals

The company has indicated it will make further disclosures in accordance with Regulation 30 and applicable SEBI circulars upon receiving final confirmation from the promoter. The proposal requires evaluation of necessary approvals, appointment of required intermediaries under the SEBI OFS framework, and appropriate notifications to stock exchanges as per SEBI (LODR) Regulations, 2015.

The promoter has requested the company to take all necessary steps to facilitate the OFS process, including obtaining requisite approvals and appointing necessary intermediaries as required under regulatory guidelines. This structured approach ensures compliance with all applicable SEBI circulars and guidelines for OFS transactions.