Rolex Rings Limited announced the voting results and scrutinizer's report for the postal ballot e-voting conducted for a special resolution regarding buyback of equity shares.

Voting Results and Shareholder Approval

The special resolution for "Buyback of Equity shares of the Company" was passed by shareholders with requisite majority through remote e-voting process that ended on 31st May, 2026.

Voting Statistics:

  • Total shareholders on record date (24th April, 2026): 106,134
  • Total shares outstanding: 272,333,120
  • Total votes polled: 147,247,243 shares (54.0688% of outstanding shares)
  • Votes in favor: 147,246,993 shares (99.9998% of votes polled)
  • Votes against: 250 shares (0.0002% of votes polled)

Category-wise Voting Breakdown:

  • Promoter and Promoter Group: 52,600,771 shares voted (36.9735% of their holding), all in favor
  • Public Institutions: 91,510,062 shares voted (98.3026% of their holding), all in favor
  • Public Non-Institutions: 3,136,410 shares voted (8.4821% of their holding), 3,136,160 in favor, 250 against

Buyback Resolution Details

The special resolution approved the buyback of up to 10,000,000 (Ten Million) fully paid-up equity shares of ₹1 each, representing 3.67% of the total paid-up equity share capital.

Key Terms:

  • Buyback Price: ₹180 per equity share
  • Maximum Buyback Size: ₹1,800 million (₹180 crore)
  • Buyback represents 20.43% of the Company's fully paid-up equity share capital and free reserves (adjusted by ₹1,772.60 million as per audited financial statements as on March 31, 2025)
  • Execution through "tender offer" route as prescribed under SEBI Buyback Regulations
  • Funding from current surplus, cash balances, current investments, and internal resources (not from borrowed funds)
  • 15% reservation for small shareholders as defined in Buyback Regulations
  • Promoters and promoter group expressed intention not to participate in the buyback via letters dated April 23, 2026

Implementation Authority

The Board of Directors is authorized to:

  • Finalize terms, mechanism, and schedule of the buyback
  • Decide and announce record date
  • Appoint intermediaries (merchant banker, brokers, lawyers, etc.)
  • Make necessary filings with SEBI, stock exchanges, and other authorities
  • Execute all documents and undertake all actions required for implementation
  • Increase buyback price without changing buyback size as permitted under Regulation 5(via) of Buyback Regulations

Process and Timeline

  • Voting period: 2nd May, 2026 (9:00 AM IST) to 31st May, 2026 (5:00 PM IST)
  • Scrutinizer: CS Purvi Dave of MJP Associates, Practising Company Secretaries
  • E-voting service provider: MUFG Intime India Private Limited
  • Public advertisement published in Financial Express (English and Gujarati editions) on 30th April, 2026
  • Results declared on 2nd June, 2026 based on scrutinizer's report dated 31st May, 2026

Documents Available

The voting results, scrutinizer's report, and related documents are available on the company's website at www.rolexrings.com.