EGM Voting Results and Scrutinizer''s Report
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Rithwik Facility Management Services held an Extra Ordinary General Meeting on August 5, 2025, where shareholders voted on a Special Resolution to approve disinvestment in its wholly owned subsidiary, Rithwik Indus Power Private Limited, under Section 180(1)(a) of the Companies Act, 2013. Of the total 30,60,000 shares, 19,84,496 shares (64.85%) were polled, and every single vote was cast in favour of the resolution — no votes against. The promoter group (holding 22,50,000 shares) voted 17,77,496 shares (100% in favour), while public non-institutional shareholders (holding 8,10,000 shares) cast 2,07,000 votes (100% in favour). The e-voting window ran from August 2 to August 4, 2025, and the Scrutinizer confirmed the resolution was passed with the requisite majority. No details on the deal value, buyer, or timeline were disclosed in this filing — only the shareholder approval has been reported so far.
Shareholders have cleared the way for the company to exit its power subsidiary, but the actual transaction terms, buyer identity, and use of proceeds are still awaited. Watch for a subsequent disclosure with deal value and structure, which will determine whether this is value-accretive or a minor portfolio reshuffle.