In reference to captioned subject, we hereby inform you that the Board of Directors of the Company, in their Board Meeting held today, i.e., on Thursday, February 26, 2026, at the Registered ....
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The Board of Directors of Riddhi Corporate Services Ltd met on February 26, 2026, and approved several key items. Most importantly, on the recommendation of the Audit Committee, they approved a deviation or variation in the object clause of the company's earlier IPO, meaning the company wants to change the stated purpose for which the IPO proceeds were originally meant to be used. This change requires shareholder approval via Postal Ballot. Additionally, the Board appointed M/s Amrish Gandhi & Associates as the Secretarial Auditor for a 5-year term (FY 2025-26 to FY 2029-30). The Board also approved the Postal Ballot Notice and appointed NSDL as the remote e-voting agency, along with a scrutinizer for the voting process.
The change in use of IPO proceeds is a material event — shareholders will get to vote on whether to approve the new deployment of funds, which could signal a shift in the company's strategic priorities. The appointment of a new secretarial auditor for a long 5-year term is a routine compliance matter.