Notice of EGM to be held on 30.10.2025
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Ritesh International Ltd has called an Extra-Ordinary General Meeting (EGM) on Thursday, 30 October 2025 at 11:00 a.m. at its registered office in Ahmedgarh, Punjab. The sole item of special business is the issuance of up to 8,20,000 equity shares of Rs. 10 face value at Rs. 46.23 per share (including a premium of Rs. 36.23), aggregating to Rs. 379.086 lakh (about Rs. 3.79 crore). These shares will be allotted on a preferential basis to the two promoters — Ritesh Arora and Rijul Arora — with each promoter receiving 4,10,000 shares. The proceeds are intended to repay/reduce the company's credit facilities and meet working capital needs. The issue price has been fixed as per SEBI's ICDR pricing formula, with the relevant date being 30 September 2025. Post-issue, the promoter group's combined holding will rise from 43.05% to 48.03%, while public shareholding will dilute from 56.95% to about 51.97%.
Existing public shareholders will face about 5% dilution, and the promoter group will consolidate its stake to nearly 48%. There is no change in control. The fund raise is modest in size but will strengthen the company's balance sheet by cutting debt and supporting working capital, which is mildly positive for solvency, though the preferential price is well above face value.