Rajnish Retail Ltd. (BSE: 530525) has announced that its board has approved sub-Division/Split of 1 Equity Share into 5 equity shares, subject to the approval of the Members of the Company and other regulatory / statutory approvals as may be required. The record date for the sub-division of equity shares shall be decided by the Board and will be intimated to the stock exchanges after receipt of approval of the members.
The board further approved offer, issue and allotment up to 690,000convertible warrants, each convertible at an issue price that may be decided by the Preferential Issue Committee to promoters and/or non-promoters through preferential issue, subject to approval of the
shareholders and other authorities under applicable laws. The board also recommended to appoint Mr. Anand kumar Rameshkumar Jain as Director and Executive Director of the Company. He is a seasoned professional with over 15 to 20 years of extensive experience in the fast-moving consumer goods (FMCG) industry, specializing in Ayurvedic and various over-the-counter (OTC) products. He has built a robust network of distribution channels spanning across India. He possesses a keen understanding of market dynamics, consumer behavior, and industry trends. His leadership has been instrumental in driving substantial business growth and achieving impressive revenue figures. Under his leadership, his previous company consistently achieved annual turnover ranging from 300 crores to 350 crores, reflecting his ability to deliver strong financial results.
Recently the company expand edits portfolio by venturing into the beauty and wellness industry with the launch of a new salon. This strategic move is aimed at diversifying our business and capitalizing on a growing market. Urban Salon, a brand of Rajnish Retail Limited, has started a new Shop in Evershine nagar, Malad District of Mumbai. Urban Salon has opened beauty and wellness shop. The beauty and wellness industry is witnessing robust growth, driven by increasing consumer spending on personal care and grooming services. The salon will be equipped with state-of-the-art amenities and staffed by experienced professionals committed to delivering exceptional service.
Earlier, the company had announced that it has effected a name change from Sheetal
Diamonds Ltd., and is now trading under the name of “Rajnish Retail Ltd.”. All Retail business with innovative ideas will be launched under this banner.
Mr. Rajnishkumar Singh, the visionary behind Rajnish Wellness Ltd.’s success with Dava
Discount stores, had earlier completed the acquisition of Rajnish Retail Ltd. (Formerly Sheetal Diamonds Ltd). As a result of conditions of open offer and change in control of management, the new board will now be led by Rajnishkumar Singh (promoter and Chairman), and Apra Shah, Lovish Kataria, & Renu Kaur, who will all serve as Additional Non-Executive independent directors. Vijay Kumar Chopra will serve as the CEO and Executive director.
Mr. Rajnish kumar Singh is the Promoter, Founder and Managing Director of Rajnish Wellness Limited, a company that got listed on the Bombay Stock Exchange in the year 2018.Previously the market capitalization of the company has touched Rs.900 Crores. He has extensive experience in the retail sector, with demonstrated success in his past endeavors. He has consistently demonstrated an assertive approach and exhibited a willingness to undertake calculated risks in the development of innovative and unique products.