Riddhi Siddhi Gluco Biols Limited has submitted a clarification and amendment to its prior disclosure dated April 8, 2026, regarding the proposed Offer for Sale (OFS) to comply with Minimum Public Shareholding (MPS) requirements. This compliance is being undertaken in accordance with the directions of the Securities Appellate Tribunal (SAT) order dated March 9, 2026, which upheld the findings of the SEBI order dated August 11, 2021.

The key amendment involves a change in the identity of the selling promoter entity. Initially, Mr. Ganpatraj Lalchand Chowdhary (a promoter holding 12,77,513 equity shares representing 17.92% of total equity) was proposed to offer 8,23,422 equity shares (11.55% of total paid-up equity) through the OFS mechanism.

It is now formally proposed that Vital Connections LLP, a designated member of the promoter group holding 8,56,009 equity shares (12.01% of total equity share capital), will act as the selling entity offering the same number of shares (8,23,422 equity shares representing 11.55% of total equity).

This change follows a legal opinion obtained by the promoters which clarified that the direction to achieve MPS compliance is a collective obligation of the promoter group, and any entity legally recognized as part of the "Promoter and Promoter Group" is eligible to offer shares for sale to achieve the required 25% public shareholding threshold. Vital Connections LLP was formally classified under the "Promoter and Promoter Group" category in the company's shareholding pattern for the quarter ending March 2026 pursuant to the SAT order.

The change does not impact the volume of shares being offered or the prospective shareholding structure post-OFS. Post-OFS, the shareholding distribution will be:

  • Promoters/Promoter Group: 53,47,339 shares (75%)
  • Public: 17,82,447 shares (25%)
  • Grand Total: 71,29,786 shares (100%)

The company has undertaken to disclose this matter before the Audit Committee and Board of Directors in their forthcoming meetings and will intimate the exchange of the outcome.

The disclosure includes supporting correspondence from Mr. Ganpatraj Lalchand Chowdhary (dated June 3, 2026 and June 15, 2026) and Vital Connections LLP (dated June 3, 2026) confirming the change in selling shareholder from Mr. Chowdhary to Vital Connections LLP while maintaining all other terms and conditions unchanged.