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 Ltd. witnessed significant institutional activity through multiple bulk deals, with global investment bank Morgan Stanley emerging as a major buyer while French bank Societe Generale reduced its position in the mid-cap forging company.

Major Bulk Deal Transactions

The company recorded substantial institutional transactions involving prominent global financial institutions:

Market Performance and Pricing

Both transactions were executed at a discount to the previous trading session. The buying and selling prices represented a 1.20% discount compared to Monday's closing price of ₹512.90 on the NSE. The stock ended the trading session at ₹508.90, declining by ₹4.00 or 0.80% from the previous close.

Technical Analysis and Market Position

The stock's technical indicators reflect challenging market conditions:

The stock is currently trading below both its 50-day and 200-day simple moving averages, indicating bearish momentum. The Money Flow Index of 28 suggests the stock is in oversold territory, as values below 30 typically indicate oversold conditions.

Financial Performance

The company's recent financial results show operational challenges. Ramkrishna Forgings reported a consolidated net loss of ₹9.50 crores in the September quarter, contrasting sharply with a net profit of ₹190.00 crores in the corresponding period of the previous year. Total revenue declined 13% to ₹913.00 crores from ₹1,056.00 crores in the year-ago quarter.

Company Overview

Founded in 1981, Ramkrishna Forgings operates as a metal forming company specializing in forged, machined, and fabricated products. The company serves diverse sectors including automotive, railways, farm equipment, earth moving, mining and construction, oil and gas, power, and general engineering industries.