RMC Switchgears Limited scheduled a board meeting for October 9, 2026, to deliberate on raising funds through a rights issue to existing shareholders.

The meeting is set for 11:00 am at the company's corporate office. The agenda includes approving the quantum of the issue and constituting a Rights Issue Committee to determine terms and conditions.

Regulatory compliance and trading window

The company filed this intimation under Regulation 29(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In line with insider trading norms, the trading window is closed from October 1, 2026, until 48 hours after the meeting concludes.

Meeting agenda details

The board will address the following key items:

1. Approve the issuance of fully paid-up equity shares via rights issue.
2. Fix the quantum of the issue as permitted under applicable law.
3. Constitute a Rights Issue Committee with authority to decide terms.
4. Approve the objects of the rights issue.

The company stated that any other matters related to the rights issue may also be transacted. The decision remains subject to regulatory and statutory approvals.

RMC Switchgears shareholders approved all seven resolutions proposed at the 32nd Annual General Meeting held on September 19, 2026. The meeting, conducted via video conferencing, saw a total of 55,17,383 shares voted through remote e-voting.

The company convened the meeting in compliance with Ministry of Corporate Affairs circulars and SEBI Listing Regulations. Thirty-seven members attended the virtual session. Key managerial personnel including Chairman and Managing Director Ashok Kumar Agarwal and CEO Ankit Agrawal addressed the gathering.

Resolutions Passed

Shareholders voted on seven agenda items covering ordinary and special business. The board sought approval for routine matters such as the adoption of financial statements and the reappointment of Mrs. Neha Agarwal as a director liable to retire by rotation.

Special business included significant corporate actions:

• Approval to increase the authorized share capital of the company
• Ratification of remuneration for cost auditors for FY27
• Approval of remuneration for Non-Executive Director Akhilesh Kumar Jain
• Authorization to grant loans and provide guarantees to subsidiary companies under Section 185 of the Companies Act, 2013
• Approval of material related-party transactions with subsidiaries

Voting Results Breakdown

The scrutinizer’s report, submitted by V.M. & Associates, detailed the voting patterns across promoter and public holdings. The following table summarizes the outcome for key resolutions:

Promoter and promoter group members voted in favor of all resolutions where they were not interested parties. For resolutions involving related-party transactions and loans to subsidiaries (Items 6 and 7), the promoter group abstained from voting due to their interest in the agenda, leaving the decision to public shareholders.

Audit Observations

The statutory auditor’s report contained no qualifications or adverse remarks. In contrast, the secretarial auditor’s report issued by V.M. & Associates included five qualifications. The company will submit the combined e-voting results and scrutinizer’s report to stock exchanges within two working days.

CEO Ankit Agrawal briefed shareholders on the company’s current status and future prospects. He highlighted the organization’s focus on inclusive growth, innovation, and sustainability during his address.