Ratnaveer Precision Engineering Limited has informed the Exchange regarding Appointment of Mrs. Seema Sanghavi as Executive Director of the company w.e.f. April 28, 2026.
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The Board of Directors of Ratnaveer Precision Engineering Limited approved multiple matters at their meeting on April 28, 2026. Key decisions include: (1) Appointment of Mrs. Seema Vijay Sanghavi as Additional Director designated as Executive Director for 5 years effective April 28, 2026, subject to shareholder approval. She is the wife of Mr. Vijay Sanghavi, the Managing Director, and has been associated with the company as chief sales co-ordinator. (2) Increase in authorised share capital from Rs. 85 Crores to Rs. 113 Crores (adding approximately 2.8 Crore equity shares). (3) Fund raising of up to Rs. 330 Crores through various methods including QIP, Rights Issue, FPO, GDR, FCCB, or other eligible securities, subject to shareholder and regulatory approvals. An EGM has been scheduled for May 30, 2026 to seek shareholder approvals.
The appointment of the Managing Director's wife to an executive board position represents a promoter family entry to the board, which may raise governance questions for minority shareholders. The planned Rs. 330 Crore capital raise could be dilutive to existing shareholders but signals growth ambitions. Shareholders should evaluate these matters carefully at the upcoming EGM.