News Corporate Actions Riddhi Steel & Tube Schedules EGM for January 27, 2026 to Approve Bonus IssueRiddhi Steel & Tube Schedules EGM for January 27, 2026 to Approve Bonus Issue
Riddhi Steel & Tube has formally scheduled an EGM for January 27, 2026, to seek shareholder approval for its 1:2 bonus issue involving 41,45,126 shares and authorized capital expansion from ₹8.50 crores to ₹15 crores, with comprehensive regulatory compliance and voting procedures in place.
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Riddhi Steel & Tube has officially scheduled an Extraordinary General Meeting (EGM) for January 27, 2026, to seek shareholder approval for its proposed 1:2 bonus issue and authorized capital increase. The company has issued a formal notice dated January 1, 2026, outlining the complete procedural framework for the capital structure modifications.
EGM Details and Voting Procedures
The EGM will be conducted at the company's registered office located at 83/84, Village - Kamod, Piplaj Pirana Road, Post - Aslali, Ahmedabad 382427, commencing at 11:00 AM. The company has appointed Mr. Gaurang R Shah (CPN. 14446), Practicing Company Secretary, as the scrutinizer for conducting the voting process.
| Parameter: | Details |
|---|---|
| EGM Date: | January 27, 2026 |
| Time: | 11:00 AM |
| Venue: | Registered Office, Ahmedabad |
| Cut-off Date: | January 23, 2026 |
| Record Date: | December 31, 2025 |
Authorized Capital Enhancement
The first agenda item involves increasing the authorized capital from ₹8.50 crores to ₹15.00 crores, representing a 76.47% expansion. This increase is essential to accommodate the proposed bonus issue and future capital requirements.
| Parameter: | Current Structure | Proposed Structure |
|---|---|---|
| Authorized Capital: | ₹8.50 crores | ₹15.00 crores |
| Number of Shares: | 85,00,000 shares | 1,50,00,000 shares |
| Face Value: | ₹10.00 per share | ₹10.00 per share |
| Additional Capital: | - | ₹6.50 crores |
Bonus Issue Implementation
The company proposes to issue 41,45,126 bonus shares in the ratio of 1:2, requiring capitalization of ₹4.15 crores from securities premium and retained earnings. The bonus shares will be allotted only in dematerialized form as per SEBI regulations.
| Particulars: | Details |
|---|---|
| Bonus Ratio: | 1:2 (1 new share for every 2 existing shares) |
| Total Bonus Shares: | 41,45,126 shares |
| Capitalization Amount: | ₹4.15 crores |
| Current Paid-up Capital: | ₹8.29 crores |
| Post-Bonus Paid-up Capital: | ₹12.44 crores |
Financial Resources and Compliance
The company maintains adequate reserves to support the bonus issue implementation. The financial position demonstrates sufficient resources for the proposed capitalization without impacting operational liquidity.
| Reserve Type: | Available Amount |
|---|---|
| Securities Premium: | ₹7.90 crores |
| Retained Earnings: | ₹45.91 crores |
| Required for Bonus Issue: | ₹4.15 crores |
Regulatory Framework and Timeline
The EGM notice complies with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, and relevant SEBI circulars. The company expects to complete the bonus share crediting process within two months of board approval, subject to shareholder consent and regulatory clearances. All bonus shares will be listed on BSE where the company's equity shares are currently traded.
Historical Stock Returns for Riddhi Steel & Tube
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.15% | +11.76% | +40.74% | +406.33% | +194.57% | +2,714.81% |
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