RMC Switchgears Limited has entered into a significant financial arrangement by pledging its subsidiary shares to secure a loan of ₹1,35,91,500. The Board of Directors approved the execution of a Loan Cum Share Pledge Agreement with Saatvik Cleantech EPC Private Limited on March 31, 2026, during a board meeting that commenced at 6:15 PM and concluded at 8:30 PM.

Regulatory Disclosure and Compliance

The company has filed a revised intimation under Regulation 30 of SEBI LODR with BSE Limited on April 2, 2026, providing comprehensive details of the share pledge arrangement. The disclosure was signed by Shivani Bairathi, Compliance Officer & Company Secretary, ensuring full regulatory compliance with SEBI Master Circular requirements.

Transaction Structure and Details

The agreement involves pledging RMC Switchgears' 51% shareholding in its subsidiary, Intelligent Hydel Solutions Private Limited, as collateral for the financial assistance. The transaction establishes an exclusive, absolute, and continuing security interest over the pledged securities in favor of Saatvik Cleantech EPC Private Limited.

Shareholding Structure and Relationships

The transaction involves a complex shareholding arrangement between the parties. RMC Switchgears holds no stake in Saatvik Cleantech EPC Private Limited, while Saatvik Cleantech EPC Private Limited maintains a 49% shareholding in Intelligent Hydel Solutions Private Limited. RMC Switchgears retains its 51% controlling stake in the subsidiary, which is being pledged as security.

Agreement Terms and Security Provisions

The pledge agreement serves multiple purposes beyond securing the loan amount. The arrangement ensures RMC Switchgears' strict adherence to the repayment schedule and all financial covenants associated with the loan. The lender receives comprehensive rights and remedies, including the authority to invoke the pledge, transfer, sell, or appropriate the pledged securities without notice, delay, or obstruction, subject to applicable law provisions.

Related Party Transaction Assessment

The company has confirmed that this transaction does not fall within the ambit of related party transactions as per the Companies Act, 2013 and SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Saatvik Cleantech EPC Private Limited is not related to the promoter, promoter group, or group companies of RMC Switchgears Limited, despite holding a 49% stake in the subsidiary. Accordingly, the question of arm's length pricing does not arise.

The pledge creates a material inducement for the lender to extend the loan and constitutes a continuing security that remains in full force until complete discharge of the debt is certified in writing by the pledgee. The arrangement provides RMC Switchgears with immediate access to ₹1,35,91,500 in financial assistance while maintaining operational control of its subsidiary through the majority shareholding structure.

Source: Company/INE655V01019/0c2029da-a798-43c2-a7bf-d68395990c67.pdf

RMC Switchgears Limited has achieved a significant corporate milestone by receiving final listing and trading approval for migrating its equity shares from the BSE SME Platform to the mainboards of both BSE Limited and National Stock Exchange of India Limited (NSE). The company has formally disclosed this development pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, marking a major step forward in its capital market journey and strategic growth plans.

Migration Approval Details

The company has received official approval for the migration of 1,05,76,850 (One Crore Five Lakhs Seventy Six Thousand Eight Hundred Fifty) equity shares of Re. 10/- each fully paid-up from the SME Platform to the mainboards of both exchanges. The approvals were granted through separate communications from both exchanges.

Trading Commencement

The equity shares of RMC Switchgears Limited will be listed and admitted to dealings on the main boards of both BSE and NSE with effect from April 1, 2026. This dual listing will provide the company with enhanced market presence and improved accessibility for investors across both major Indian stock exchanges.

NSE Trading Parameters

The National Stock Exchange has specified the trading parameters for the migrated shares, which will be available under specific series and market lot configurations.

Management Commentary

Commenting on the development, Mr. Ankit Agrawal, CEO and Whole-Time Director, RMC Switchgears Limited, expressed gratitude to shareholders and emphasized the company's commitment to enhanced governance standards. He stated that receiving approval for migration to the Main Board and listing on NSE represents a proud milestone for the company, acknowledging the greater responsibilities in governance, disclosures, and stakeholder engagement that come with this transition.

Strategic Significance

This dual listing marks a significant milestone in RMC Switchgears Limited's journey and demonstrates the company's sustained growth trajectory and commitment to transparency and strong corporate governance. The company believes that listing on the Main Board of BSE and NSE will enhance its visibility in the capital markets, facilitate wider participation from retail and institutional investors, and support stronger engagement with the broader investment community.

The migration to mainboard status will subject the company to all provisions of SEBI (LODR) Regulations, 2015, including corporate governance provisions, effective from the first date of trading on the main board. This transition reinforces the company's position as a trusted player within the Indian financial ecosystem and supports ongoing efforts to create sustainable value for all stakeholders.