Shree Rajeshwaranand Paper Mills Limited approved a revised list of allottees for its proposed preferential issue of 1.20 crore equity shares on October 8, 2026. This action supersedes earlier board proceedings regarding the allotment details while maintaining all other terms and conditions unchanged.

The board meeting, held in Bharuch, Gujarat, authorized the company to apply to BSE Limited for in-principle approval for listing these shares. The proposal is part of an equity infusion and restructuring plan initially considered by the board on July 10, 2025.

Structure of the preferential issue

The company plans to issue 1,20,00,000 equity shares with a face value of ₹10 each, aggregating to ₹12 crore. These shares represent approximately 94.81% of the post-allotment capital structure. The revised allottee list includes promoters, promoter group members, and public shareholders.

Key allottees and share distribution

The majority of the new shares are allocated to promoter and promoter group entities. Pratik Kakadia is set to receive the largest single block, followed by Ramjibhai Kakadiya. The table below summarizes the allocation to major holders:

Remaining shares are distributed among various public shareholders and other promoter group individuals, with most individual allocations being nominal in size relative to the total issue.

What the numbers show

The data reveals a significant concentration of ownership within the promoter and promoter group categories. Pratik Kakadia alone accounts for over half of the issued shares at 55.27%, while Ramjibhai Kakadiya holds 31.18%. Together, these two individuals control approximately 86.45% of the newly issued capital. This indicates that the equity infusion is primarily driven by insider participation rather than external public investors, as the aggregate shareholding of all listed public allottees combined represents a negligible fraction of the total issue.

Shree Rajeshwaranand Paper Mills Limited passed all three resolutions at its 35th Annual General Meeting held on September 26, 2026, with 574715 valid votes cast entirely in favour and nil dissent recorded across every agenda item.

The AGM was conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM) starting at 12:00 noon and concluding at 12:10 pm. Remote e-voting commenced on September 23, 2026, at 9:00 am and concluded on September 25, 2026, at 5:00 pm. Mrs. Riddhi Shah, Practising Company Secretary, served as Scrutinizer for both the remote e-voting and venue voting processes. Mr. Bhavesh Javerbhai Vekaria, Managing Director, chaired the meeting. The voting results were submitted to BSE Limited in accordance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key resolutions passed

Shareholders adopted the annual accounts and reports for FY26, ratified the re-appointment of a director retiring by rotation, and approved the appointment of new statutory auditors. The promoter and promoter group held zero shares and cast no votes on any resolution; all valid votes originated from public non-institutional shareholders.

Voting results

All three resolutions received identical voting outcomes. The total shareholder base on record comprised 3,266 shareholders, of whom 30 attended through VC/OAVM. The e-voting platform was provided by MUFG Intime India Private Limited.

All votes were cast via remote e-voting; nil votes were recorded through venue poll for any resolution. Each ordinary resolution was passed with requisite majority as confirmed in the Scrutinizer's report dated September 26, 2026, issued from Mumbai (UDIN: A020168H001621526).