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.

Riddhi Siddhi Gluco Biols Limited has disclosed a revision in its credit ratings by Crisil Ratings, with both long-term and short-term facility ratings now placed under negative watch implications. The company communicated this development to BSE Limited on April 1, 2026, in compliance with regulatory disclosure requirements.

Credit Rating Revision Details

Crisil Ratings has modified the outlook on the company's loan facilities from 'developing implications' to 'negative implications' while maintaining the existing rating levels. The revision affects both categories of the company's rated facilities.

Regulatory Compliance

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company referenced SEBI Master Circular HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 issued on July 11, 2023, and last updated on January 30, 2026, as part of its compliance framework.

Corporate Communication

The formal intimation was signed by Sharad Jain, Company Secretary (Membership No.: F13058), and digitally submitted to BSE Limited. The company's registered office is located at Abhisree Corporate Park, Ambli-Bopal Road, Ahmedabad, and it operates under CIN L24110GJ1990PLC013967.

The rating revision represents a change in credit outlook from a neutral developing status to a more cautious negative watch position, indicating potential concerns about the company's credit profile that warrant closer monitoring by the rating agency.