R Systems International Approves Q1FY26 Results and Allots 5.16 Million OCRPS
R Systems International Limited approved its Q1FY26 results and allotted 5,160,833 OCRPS as part of an amalgamation scheme. The company also accepted the resignation of its Company Secretary & Compliance Officer, Mr. Bhasker Dubey, and appointed Mr. Piyush Jain to the role effective May 7, 2026.
The allotment of shares as part of an amalgamation and changes in key management personnel can have a moderate impact on the company's structure and governance.
The announcement includes routine financial results and personnel changes, with no significantly positive or negative financial or operational news.
R Systems International Limited's Board of Directors, in a meeting held on May 6, 2026, approved the audited standalone and unaudited consolidated financial results for the quarter ended March 31, 2026. The meeting commenced at 7:15 PM IST and concluded at 8:20 PM IST.
Key decisions included the allotment of 5,160,833 optionally convertible redeemable preference shares (OCRPS) with a face value of ₹1 each to specific shareholders of Velotio Technologies Private Limited. This allotment is in accordance with the composite scheme of amalgamation of Velotio Technologies Private Limited and Scaleworx Technologies Private Limited with R Systems International Limited, as approved by the National Company Law Tribunal, New Delhi, on April 16, 2026. The OCRPS will remain unlisted and will adhere to the terms specified in the Company's Articles of Association and the Scheme.
Furthermore, the Board accepted the resignation of Mr. Bhasker Dubey as Company Secretary & Compliance Officer, effective May 6, 2026. Concurrently, Mr. Piyush Jain was appointed as the new Company Secretary & Compliance Officer, effective May 7, 2026. Mr. Jain has also been authorized as the responsible person for determining the materiality of events and making disclosures to the stock exchanges. The key managerial personnel responsible for material disclosures now include Mr. Nitesh Bansal (Managing Director & CEO), Mr. Nand Sardana (Chief Financial Officer), and Mr. Piyush Jain (Company Secretary & Compliance Officer).
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R Systems International Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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