Royal India Corp has announced a significant increase in promoter shareholding following an open market acquisition of equity shares. The company filed the mandatory disclosure under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, detailing the transaction completed on February 24, 2026.

Shareholding Details

The promoter group, comprising Lata Manojkumar Punamiya along with Manojkumar Babulal Punamiya, Aman Manojkumar Punamiya, Hillview Impex Private Limited, and India Corporation Limited, collectively acquired 5,85,514 equity shares through open market purchase.

Transaction Overview

The acquisition represents a 0.496% increase in the promoter group's stake in the company. The shares were purchased through open market transactions, demonstrating the promoters' confidence in the company's prospects.

Company Structure

Royal India Corporation Limited maintains its equity structure with no changes to the overall share capital following this transaction. The company's shares continue to be listed on BSE Limited.

Regulatory Compliance

The disclosure was made in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was signed by Nitin Gujral, Managing Director (DIN: 08184605), ensuring proper corporate governance protocols were followed.

This acquisition strengthens the promoter group's control over Royal India Corporation Limited, with their collective shareholding now standing at 42.46% of the company's total equity capital.

Royal India Corporation Limited has successfully completed its postal ballot process, with shareholders demonstrating overwhelming support for key corporate governance initiatives. The company announced the results on February 16, 2026, following the conclusion of the e-voting period that ran from January 15 to February 13, 2026.

Postal Ballot Results Overview

The postal ballot covered three special resolutions, all of which received strong shareholder approval. The voting process was conducted entirely through electronic means, with the cut-off date set as January 9, 2026, for determining eligible shareholders.

Key Resolutions Approved

The first resolution involved the appointment of Mr. Ikerath Joseph Sam (DIN: 00089946) as an Executive and Non-Independent Director for Business Development and Marketing. This strategic appointment received support from 64 members representing 18,749,173 votes.

The second resolution concerned the re-appointment of Mr. Jinesh Mehta (DIN: 05226043) as an Independent Director of the company. This governance-related decision also secured approval from the same number of voting members.

The third resolution focused on amending the Object Clause of the company's Memorandum of Association, which received support from 65 members with 18,749,180 votes in favour.

Voting Participation Analysis

The voting pattern showed strong alignment between promoter and public shareholders, with both categories demonstrating near-unanimous support for all resolutions. Notably, the promoter group showed 100% support with zero votes against any resolution.

Scrutinizer's Validation

Kaushal Doshi, Practicing Company Secretary and proprietor of M/s. Kaushal Doshi & Associates, served as the appointed scrutinizer for the postal ballot process. The scrutinizer confirmed that all procedural requirements under Section 108 and Section 110 of the Companies Act, 2013, along with SEBI regulations, were properly followed.

The e-voting facility was provided through National Securities Depository Limited (NSDL), ensuring secure and transparent voting mechanisms. The postal ballot notice was distributed electronically to registered shareholders and published in Financial Express and Apla Mahanagar newspapers.

Regulatory Compliance

The company maintained full compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, particularly Regulation 44 concerning voting results disclosure. The results and scrutinizer's report have been uploaded on the company's website at www.ricl.in and communicated to BSE Limited under scrip code 512047.

The successful completion of this postal ballot process strengthens Royal India Corporation Limited's corporate governance framework and positions the company for enhanced business development activities under the newly appointed executive director's leadership.