Ramkrishna Forgings Limited has successfully completed its Extraordinary General Meeting (EGM) and approved the preferential issue of convertible warrants worth ₹199.92 crore with overwhelming shareholder support. The EGM, held on December 12, 2025, through video conferencing, saw the participation of 55 members and concluded with the approval of the special resolution for warrant issuance to promoter Chaitanya Jalan.

EGM Proceedings and Approval

The EGM was conducted from 11:30 AM to 12:04 PM IST on December 12, 2025, with Mr. Lalit Kumar Khetan, Whole-time Director & CFO, chairing the meeting. The company had extended remote e-voting facility from December 9 to December 11, 2025, with insta-poll voting available during the EGM for members who had not cast their votes remotely.

Voting Results and Shareholder Support

The special resolution received exceptional support from shareholders, with detailed voting results demonstrating strong confidence in the company's strategic direction. A total of 255 members participated in the voting process, comprising both remote e-voting and electronic voting during the EGM.

Key Details of the Approved Preferential Issue

The shareholders approved the issuance of 34,00,000 fully convertible warrants to promoter Chaitanya Jalan at ₹588 per warrant, raising a total of ₹199.92 crore.

Fund Utilization Strategy

The company has outlined a clear deployment plan for the raised funds:

1. Debt Repayment: Approximately ₹149.94 crore (75%) will be utilized for repayment or pre-payment of outstanding borrowings
2. General Corporate Purposes: Up to ₹49.98 crore (25%) will be allocated for general corporate purposes

Impact on Shareholding Structure

Post-issue, assuming full conversion of warrants, the shareholding pattern will witness the following changes:

Regulatory Compliance and Oversight

The preferential issue complies with SEBI ICDR Regulations, 2018, with scrutinizer Raj Kumar Banthia of MKB Associates confirming the voting process adherence to regulatory requirements. India Ratings & Research Private Limited has been appointed as the Monitoring Agency to oversee fund utilization, as mandated by SEBI regulations for issues exceeding ₹100.00 crore.

The warrant holders will pay 25% of the warrant price at subscription, with the balance due at conversion. The issue price of ₹588.00 per warrant exceeds the minimum price calculated as per SEBI ICDR Regulations, ensuring compliance with regulatory requirements.

This strategic fundraising initiative positions Ramkrishna Forgings to strengthen its balance sheet through debt reduction while maintaining financial flexibility for future growth opportunities in the forging industry.

Ramkrishna Forgings Limited, a leading manufacturer of forged components, has announced that its Board of Directors has approved a request from Ramkrishna Rail Infrastructure Private Limited (RRIPL) to be reclassified from the 'Promoter Group' category to the 'Public' category of shareholders.

Request Details

RRIPL currently holds 65,00,000 equity shares, representing 3.59% of Ramkrishna Forgings' total equity share capital. The entity has stated that it is not directly or indirectly associated with the company's business operations and does not have any control over the management or policy decisions.

Rationale and Compliance

In its rationale, RRIPL confirmed that:

• It is not engaged in the management or operations of Ramkrishna Forgings in any manner.
• None of the members of the Promoter & Promoter Group of Ramkrishna Forgings controls more than one-half of the total voting power of RRIPL or controls the composition of RRIPL's Board.

The Board noted that RRIPL meets all criteria specified under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations for reclassification.

Approval Process

The reclassification request is subject to the following approvals:

1. Receipt of no-objection from the Stock Exchanges
2. Approval from the shareholders of Ramkrishna Forgings

Next Steps

Ramkrishna Forgings will undertake the application process to the Stock Exchanges in due course. The company will also seek shareholder approval as required by regulations.

This move is part of Ramkrishna Forgings' ongoing efforts to align its shareholding structure with the current operational realities of the company. The reclassification, if approved, may potentially impact the company's shareholding pattern and could have implications for future corporate actions.

Investors and stakeholders should note that this reclassification is subject to regulatory and shareholder approvals, and the final outcome may affect the company's ownership structure.