Enclosed Voting results of the EGM 30.10.2025
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Ritesh International Ltd held an Extra-Ordinary General Meeting (EGM) on October 30, 2025, where shareholders approved a Special Resolution for the issuance of equity shares on a preferential basis. Out of 13,894 total shareholders on the record date (October 24, 2025), only 34 attended in person (3 promoters and 31 public shareholders). A total of 3,063,687 shares were polled (35.82% of total 8,552,822 shares), and 100% of voted shares were cast in favour of the resolution with zero votes against. The promoter and promoter group (holding 3,681,947 shares) polled 82.74% of their holdings, while public non-institutions had a very low turnout of just 0.36%. The resolution was passed with the requisite majority, as confirmed by Scrutinizer Mr. Ansh Bhambri.
The approved preferential allotment will lead to equity dilution for existing shareholders. Since promoters voted in favour and public participation was minimal, the issuance is likely to favour promoter/related-party interests, potentially resulting in further promoter shareholding increase. Shareholders should monitor forthcoming disclosures on allotment price, quantity, and allottees to assess dilution impact.