Submission of Voting Results and Scrutinizer''s Report of the 01/2025-26 EGM of the Company held on 27.01.2026.
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Riddhi Steel and Tube Ltd held its Extra Ordinary General Meeting (EGM) on 27 January 2026 from 11:00 AM to 11:30 AM, where two ordinary resolutions were passed. Resolution 1 was to increase the Authorised Share Capital, and Resolution 2 was to issue Bonus Equity Shares to existing shareholders. Both resolutions were passed with 100% approval, with 64,10,132 shares (77.32% of total outstanding shares of 82,90,252) voted entirely in favour and zero votes against. A total of 14 shareholders attended the meeting in person or by proxy out of 94 shareholders on record date (23 January 2026). The scrutinizer Gaurang Shah of G R Shah & Associates confirmed zero invalid votes and that the requisite majority was achieved for both resolutions.
The unanimous approval of the bonus share issuance is positive for shareholders as they will receive free additional shares, increasing liquidity and reflecting management's confidence in the company's prospects. The increase in authorised share capital provides room for future fundraising or expansion. The stock may see short-term price adjustment on the ex-bonus date.