R M Drip and Sprinklers Systems Limited has informed the Exchange regarding Notice of Postal Ballot
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R M Drip and Sprinklers Systems Limited has issued a postal ballot notice seeking shareholder approval on four key items. First, the company proposes to increase its authorised share capital from Rs. 31.50 crore to Rs. 50 crore to accommodate the bonus issue. Second, the Board has approved a bonus issue in the ratio of 5:7 — meaning 5 new fully paid-up equity shares for every 7 existing shares — by capitalising up to Rs. 17.84 crore from the Securities Premium Account and Retained Earnings, with a record date of 7th April 2026. Third, the company seeks approval to formally appoint Mr. Atharva Nivrutti Kedar as Managing Director for 3 years (till 28th January 2029) with a monthly remuneration of Rs. 5 lakh. Fourth, Ms. Neha Karekar Pramod is proposed to be appointed as Non-Executive Independent Women Director for a 5-year term. The e-voting window runs from 5th March 2026 to 3rd April 2026, with results to be announced by 4th April 2026.
The bonus issue (5:7 ratio) rewards existing shareholders by issuing free shares from reserves, which improves share liquidity and affordability but will lead to a proportionate adjustment in the stock price on the ex-bonus date. The increase in authorised capital is a procedural step to enable the bonus issue. Overall, this is shareholder-friendly and reflects confidence in the company's reserves, though it does not bring in fresh capital.