Rikhav Securities shareholders approve all resolutions at 31st AGM
- All resolutions passed at Rikhav Securities' 31st AGM held on September 22, 2026
- Financial statements adoption received 100% votes in favor
- Director re-appointment passed with 99.98% support, facing minor opposition
- Total voter turnout stood at 27.26% of outstanding shares
*this image is generated using AI for illustrative purposes only.
Rikhav Securities Limited shareholders unanimously approved all resolutions at the 31st Annual General Meeting (AGM) held on September 22, 2026. The meeting was conducted via Video Conferencing and Other Audio-Visual Means, with two ordinary resolutions passed by remote e-voting.
The first resolution sought approval to adopt the audited standalone and consolidated financial statements for FY26, along with the reports of the Board of Directors and Independent Auditors. This resolution received 10,440,060 votes in favor and zero votes against, representing 100% support from the votes polled.
The second resolution concerned the re-appointment of Bharti Hitesh Lakhani, who retired by rotation and was eligible for re-appointment. This resolution secured 10,438,460 votes in favor against 1,600 votes against, resulting in a 99.98% approval rate among those who voted.
Voting participation details
A total of 1,739 shareholders were on the record date as of September 15, 2026. Voting was conducted exclusively through electronic means, with no physical attendance recorded.
| Category | Shares Held | Votes Polled | Votes in Favor | Votes Against | % In Favor |
|---|---|---|---|---|---|
| Promoter and Promoter Group | 25,564,500 | 8,650,060 | 8,650,060 | 0 | 100% |
| Public Institutions | 444,800 | 0 | 0 | 0 | N/A |
| Public Non-Institutions | 12,282,700 | 1,790,000 | 1,790,000 | 0 | 100% |
| Total (Resolution 1) | 38,292,000 | 10,440,060 | 10,440,060 | 0 | 100% |
For Resolution 2, the breakdown showed slight divergence in the public non-institutional segment:
| Category | Votes Polled | Votes in Favor | Votes Against | % In Favor |
|---|---|---|---|---|
| Promoter and Promoter Group | 8,650,060 | 8,650,060 | 0 | 100% |
| Public Non-Institutions | 1,790,000 | 1,788,400 | 1,600 | 99.91% |
| Total (Resolution 2) | 10,440,060 | 10,438,460 | 1,600 | 99.98% |
Scrutinizer report highlights
MNB & Co. LLP served as the scrutinizer for the e-voting process, which remained open from September 19, 2026, at 9:00 am to September 21, 2026, at 5:00 pm. The report confirmed that no invalid votes were recorded for either resolution. The management ensured compliance with the Companies Act, 2013, regarding voting through electronic means.
What the numbers show
Voter turnout was relatively low, with only 10,440,060 shares voting out of 38,292,000 outstanding shares, representing a 27.26% participation rate. Promoters accounted for the majority of the votes cast, holding 25,564,500 shares but casting only 8,650,060 votes, indicating that not all promoter-held shares participated in the voting process.
Historical Stock Returns for Rikhav Securities
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.48% | -9.29% | +20.11% | +32.35% | -26.30% | -69.54% |
How will the adoption of the FY26 audited financial statements influence Rikhav Securities' credit rating and future borrowing costs?
What strategic initiatives is Bharti Hitesh Lakhani expected to prioritize in his new term given the current market volatility?
Will the low 27.26% voter turnout prompt the board to implement measures to increase shareholder engagement and institutional participation?
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