Riddhi Portfolio Private Limited has formally disclosed the conversion of 6,40,000 warrants into an equal number of fully paid-up equity shares of Ramkrishna Forgings Limited, effective March 27, 2026. This action increases the total voting capital of the Target Company. The disclosure details the pre- and post-acquisition holdings of Riddhi Portfolio and its Persons Acting in Concert (PACs), confirming a collective holding percentage of 44.47% post-conversion.
Mandatory Disclosure of Shareholding Changes
Riddhi Portfolio Private Limited submitted a mandatory disclosure concerning a change in its shareholding structure in Ramkrishna Forgings Limited (the Target Company). This change arises from the exercise and conversion of warrants into common equity.
Details of Warrant Conversion
The acquisition involved the conversion of 6,40,000 warrants into 6,40,000 fully paid-up equity shares of the Target Company. Each share has a face value of Rs. 2/-. The date of this conversion/allotment was recorded as March 27, 2026. The mode of acquisition is classified as a Preferential Allotment (Conversion of Warrants into Equity Shares of Target Company).
Holding Position Before Acquisition
Prior to this conversion, the total holding of Riddhi Portfolio Private Limited and its associated Persons Acting in Concert (PACs) stood at 8,24,44,606 shares, representing 43.13% of the total share capital.
- Riddhi Portfolio Private Limited’s standalone holding was 6,23,07,039 shares (34.42%).
- The collective holding included shares held by several PACs, such as Mr. Naresh Jalan, Mr. Chaitanya Jalan, and Maa Chandi Financial Advisory Services Private Limited (previously Ramkrishna Rail and Infrastructure Private Limited).
Holding Position After Acquisition
Following the conversion of warrants, the combined holding of the Acquirer and its PACs increased to 8,44,44,606 equity shares (totaling 8,24,44,606 shares + 6,40,000 acquired shares, adjusted for the tables provided across the document, resulting in the final reported total). The total diluted share/voting capital of the Target Company after the said acquisition stands at Rs. 37,08,11,208/- (representing 18,54,05,604 Equity Shares).
The final reported holding post-acquisition is:
- Total Shares Carrying Voting Rights: 7,87,09,606, representing 43.33% of the new capital base.
- Total Diluted Share/Voting Capital: The group’s interest stands at 42.45% based on the pre-acquisition table totals, though the corresponding entry in the post-acquisition table indicates 44.47% (Total (a+b+c+d) section).
Capital Structure Context
The equity share capital/total voting capital of the Target Company before the acquisition was Rs. 36,20,61,208/-. After the acquisition, it increased to Rs. 36,33,41,208/- due to the conversion.
It is noted that certain holdings, specifically 1,10,00,000 Equity Shares held by Riddhi Portfolio Private Limited and 13,00,000 Equity Shares held by Mr. Naresh Jalan, are subject to encumbrances (pledge/lien) and were excluded from the calculation of the total holding percentage.
Source: BSE
