Key Quantitative Figures

  • Total paid-up equity share capital: 39,69,743 equity shares of face value ₹10 each
  • Promoter/Promoter Group holding: 29,50,950 equity shares (74.34%)
  • Public shareholding: 10,18,793 equity shares (25.66%)
  • IEPF holding: 97,211 equity shares (excluded from delisting offer)
  • Shares proposed to be acquired from public: 9,21,582 equity shares (23.22% of paid-up capital)
  • Floor price certified by valuers: ₹43.73 per equity share (as of May 08, 2026)
  • Indicative exit price: ₹56 per equity share

Dates of Action

  • Board meeting date: May 16, 2026
  • Letter of Intention received: April 27, 2026
  • Initial Public Announcement date: May 01, 2026
  • Cut-off date for voting rights: May 22, 2026
  • Remote e-voting period: May 26, 2026 (9:00 AM IST) to June 24, 2026 (5:00 PM IST)
  • Resolution deemed passed on: June 24, 2026 (if approved)

Parties Involved

  • Acquirers: Mr. Vishamber Tekchand Shewakramani and Mrs. Nalini Vishamber Shewakramani (Promoters)
  • Manager to Delisting Offer: Sobhagya Capital Options Private Limited
  • Scrutinizer: Ms. Jigyasa Ved (F6488) or Ms. Urvashi Pandya (F11797) of Parikh & Associates
  • Peer Review Company Secretary: Parikh and Associates (Peer review Number 7327/2025)
  • Valuer: RV Mohit Jayeshbhai Solanki, Chartered Accountant and IBBI Registered Valuer (IBBI Reg. No.: IBBI/RV/06/2022/14822)
  • Registrar & Share Transfer Agent: Satellite Corporate Services Pvt. Ltd.
  • E-voting agency: National Securities Depository Limited (NSDL)

Purpose and Rationale

The delisting proposal aims to enable promoters to acquire full ownership of the Company, citing:

  • Disproportionately high compliance costs compared to benefits of listing
  • Significant management time devoted to regulatory requirements instead of core operations
  • Consistently low trading volumes limiting liquidity and exit opportunities for public shareholders
  • No dividends declared for several years resulting in limited returns
  • Desire for greater operational flexibility and improved decision-making efficiency

Voting Requirements

  • Special resolution approval required through postal ballot/remote e-voting
  • Votes cast by public shareholders in favor must be at least two times votes cast against
  • Physical copy of notice not sent - only electronic mode to registered email addresses
  • Results to be declared within seven days of completion of postal ballot
  • Results will be displayed on company website (https://www.rrahl.com/) and NSDL website (www.evoting.nsdl.com)

Conditions for Delisting Offer

1. Approval of shareholders by special resolution through postal ballot

2. Consent of public shareholders holding ninety percent or more of public shareholding

3. Approval of Stock Exchange and other regulatory/statutory approvals as required

4. Terms and conditions set out in Public Announcement and Letter of Offer

Promoter Shareholding Details

| Name | Equity Shares Held | % Holding |

| Vishamber Shewakramani | 21,79,800 | 54.91% |

| Nalini Shewakramani | 3,59,150 | 9.05% |

| Rahul Shewakramani | 2,06,000 | 5.19% |

| Gautam Vishamber Shewakramani | 2,06,000 | 5.19% |

| Total | 29,50,950 | 74.34% |

Due Diligence and Certifications

  • Peer Review Company Secretary appointed on May 02, 2026 for due diligence
  • Due diligence report submitted on May 16, 2026 certified compliance with securities laws
  • Board certified that Company and Acquirers are in compliance with applicable provisions
  • Board opinion that delisting proposal is in interest of shareholders

Financial Impact

Exit price of ₹56 per share represents premium over certified floor price of ₹43.73. Actual financial impact dependent on acceptance of offer by public shareholders.

Interested Parties

Mr. Vishamber Tekchand Shewakramani, Mrs. Nalini Vishamber Shewakramani, Mr. Rahul Shewakramani, and Mr. Gautam Shewakramani (all promoters) are interested in the resolution to the extent of equity shares proposed to be acquired.