Rolex rings Limited has announced the successful completion of its Right of Recompense (RoR) settlement with consortium lenders, marking a significant milestone in the company's financial obligations. The automotive component manufacturer informed stock exchanges about this development through a regulatory filing on March 31, 2026.

Settlement Details

The company has completed the final settlement of its Right of Recompense obligations with consortium lenders led by Union Bank of India. The settlement details are presented below:

Consortium Approval and Recovery

Union Bank of India, serving as the lead bank of the consortium, along with other member banks, has approved and released the sanction towards the final settlement of the RoR amount. The bank consortium's approval demonstrates their confidence in the company's ability to meet its financial commitments.

The recovery process was completed efficiently, with Union Bank of India successfully recovering the entire Rs.101 crores from the company's account by the end of March 31, 2026. This direct debit mechanism ensured prompt settlement of the outstanding obligation.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 read with Part A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was signed by CS Hardik Dhimantbhai Gandhi, Company Secretary & Compliance Officer, ensuring proper corporate governance protocols were followed.

Financial Obligation Completion

With this settlement, Rolex Rings Limited has successfully honored its complete obligations towards the Right of Recompense to consortium lenders. This development eliminates a significant financial liability from the company's books and demonstrates its commitment to meeting banking obligations in a timely manner.

The completion of this Rs.101 crore settlement represents the company's proactive approach to managing its financial commitments and maintaining healthy relationships with its banking partners. The successful resolution of this obligation positions the company favorably for future banking relationships and financial planning.

Rolex Rings Limited successfully concluded its postal ballot voting process on March 1, 2026, with shareholders demonstrating strong support for key corporate governance decisions. Following the approval and implementation of promoter group reclassification, the company has now submitted its updated shareholding pattern to stock exchanges, reflecting the new ownership structure.

Executive Remuneration Approvals

Shareholders overwhelmingly approved remuneration revisions for three key executives of the company. The voting results demonstrated strong institutional and promoter support across all three special resolutions.

The approved remuneration revisions include specific monthly compensation packages for each executive position, all effective from November 10, 2025.

Promoter Group Reclassification Implementation

The reclassification of promoter group members to public shareholders was approved through postal ballot and subsequently implemented on March 5, 2026. The company has now submitted the updated shareholding pattern to BSE Limited and National Stock Exchange of India Limited on March 6, 2026.

Updated Shareholding Structure

Following the reclassification, the company's shareholding pattern has been restructured with promoter and promoter group holding reduced to 52.24% from the previous higher percentage.

The current promoter group comprises nine members, with the five Madeka family promoters holding individual stakes ranging from 8.70% to 10.00%. Manesh Dayashankar Madeka holds 2,59,89,150 shares (9.54%), while Rupesh Dayashankar Madeka holds the largest individual stake at 2,72,46,800 shares (10.00%).

Regulatory Compliance and Documentation

The company has fulfilled all regulatory requirements under Regulation 31A of SEBI Listing Regulations, 2015. CS Hardik Dhimantbhai Gandhi, Company Secretary & Compliance Officer, signed the intimation letter to stock exchanges confirming the updated shareholding pattern post reclassification.