Ramkrishna Forgings Limited , a leading manufacturer in the forging industry, has successfully completed the allotment of convertible warrants to promoter Mr. Chaitanya Jalan, marking a significant milestone in the company's capital raising initiative.

Warrant Allotment Completed

The Capital Market Committee of the Board of Directors approved the allotment of 34,00,000 warrants on January 14, 2026, following all necessary approvals. The allotment details are as follows:

Conversion Terms and Timeline

Each warrant is convertible into one equity share of Rs 2.00 face value within 18 months from the allotment date. The warrant holder can exercise conversion rights in one or more tranches during this period. The balance 75% of the warrant exercise price must be paid at the time of conversion to equity shares.

If the warrant holder fails to exercise the conversion option within the 18-month period, the warrants will lapse and the 25% upfront payment will be forfeited by the company.

Impact on Shareholding Structure

The warrant allotment will significantly impact the promoter's shareholding upon conversion:

*Assuming full conversion of all warrants

Regulatory Approvals and Compliance

The allotment was completed after obtaining all necessary approvals:

• Board of Directors approval on November 12, 2025
• Shareholders approval at Extraordinary General Meeting on December 12, 2025
• In-principle approval from BSE Limited and National Stock Exchange of India Limited on January 5, 2026

The company has ensured compliance with Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and other applicable regulations.

Reclassification Request Status

Separately, the company continues to evaluate the reclassification request from Ramkrishna Rail Infrastructure Private Limited (RRIPL), a promoter group entity holding 65,00,000 equity shares (3.59%), seeking reclassification from promoter group to public category shareholder status.

The successful completion of this warrant allotment strengthens Ramkrishna Forgings' capital position and provides the company with additional financial resources for its growth initiatives. The paid-up equity share capital remains unchanged until the warrants are converted into equity shares.

Ramkrishna Forgings Limited , a prominent player in the forging industry, has announced a significant development in its corporate restructuring efforts. The National Company Law Tribunal (NCLT), Kolkata Bench, has allowed the Second Motion Petition for the company's amalgamation scheme involving its subsidiaries.

Key Details of the Amalgamation Scheme

The approved scheme involves the merger of two subsidiaries with a third:

Timeline of Events

Legal Process and Next Steps

The NCLT has directed notices to be served to various statutory authorities, including:

• Central Government
• Registrar of Companies
• Income Tax authorities
• Other relevant regulators

These authorities have been given 30 days to file their representations. If no representations are received within this period, it will be presumed that they have no objections to the proposed scheme.

Transparency and Compliance

In line with regulatory requirements, Ramkrishna Forgings has made the tribunal order available on its website ( www.ramkrishnaforgings.com ). This move ensures transparency and keeps shareholders and other stakeholders informed about the ongoing corporate restructuring process.

Implications for Investors

While the amalgamation is a significant corporate action, it's important to note that the merging entities are already subsidiaries of Ramkrishna Forgings Limited. The consolidation may streamline operations and potentially lead to improved operational efficiencies within the group structure.

Investors and stakeholders should continue to monitor further developments as the amalgamation process progresses through the required legal and regulatory channels.

As the situation evolves, Ramkrishna Forgings is expected to provide updates to the stock exchanges and shareholders in accordance with regulatory guidelines.