Asston Pharmaceuticals secured unanimous shareholder approval for a special resolution to issue equity shares on a preferential basis at its Extraordinary General Meeting (EGM) held on July 31, 2026. The resolution passed with 100% of the votes polled, totaling 4,682,584 votes in favor and zero against, clearing the path for the company to execute the capital raise as planned. This outcome confirms strong backing from both promoter and public shareholders for the strategic move.

The EGM was conducted via Video Conferencing/Other Audio Visual Means (OAVM), commencing at 12:30 P.M. and concluding at 12:51 P.M. Mr. Ashish Narayan Sakalkar, Managing Director, chaired the meeting after being appointed Chairman by the members. The requisite quorum was present throughout the proceedings, ensuring compliance with the Companies Act, 2013. Shareholders exercised their voting rights through remote e-voting facilitated by National Securities Depository Limited (NSDL), with the voting window open from July 28, 2026, to July 31, 2026.

Ms. Pragya Jain of M/s Pragya & Associates served as the independent Scrutinizer, appointed by the Board to oversee the fairness and transparency of the e-voting process. Her report, dated August 3, 2026, confirmed that the electronic data generated by NSDL was scrutinized on a test-check basis and relied upon for the final results. M/s Panchal SK and Associates acted as the Statutory Auditor during the proceedings.

Voting Breakdown

The voting results reveal distinct participation patterns between promoter and public shareholders. Promoter group members, holding 4,312,480 shares, participated fully via e-voting, casting all their votes in favor of the resolution. In contrast, public non-institutional shareholders, holding 4,199,880 shares, had a lower participation rate, with only 370,104 votes polled. However, those who did vote supported the resolution unanimously.

No invalid votes were recorded across any category. The record date for determining eligibility to vote was July 24, 2026, with 727 shareholders on record. Of these, three promoter shareholders and seven public shareholders attended the meeting virtually.

Key Attendees

The following directors and key managerial personnel attended the virtual meeting:

• Ashish Narayan Sakalkar, Managing Director
• Saili Jayaram More, Whole Time Director and CEO
• Rishabh Kumar Jain, Independent Director
• Sachin Chandrakant Badakh, Non-Executive Director
• Sandip Sharma, Independent Director
• Vijaya E Shahapurkar, Independent Director
• Yashvardhan Nitin Tupe, Non-Executive Director
• Yogesh Prakesh Supekar, Non-Executive Director

Regulatory Compliance

The company submitted the Scrutinizer’s Report along with the voting results to BSE Limited on August 3, 2026, in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The submission was signed by Rishi Upadhaya, Company Secretary and Compliance Officer. The promoters declared no interest in the agenda item, confirming that the preferential issue is not directed towards them but likely towards third-party investors or strategic partners, although specific allotment details were not disclosed in the filing.

Asston Pharmaceuticals Limited has scheduled an Extraordinary General Meeting (EGM) on July 31, 2026, to seek shareholder approval for the preferential allotment of up to 24,10,431 equity shares to non-promoters, aiming to raise ₹27.72 crore. The issuance, priced at ₹115 per share including a premium of ₹105, will fund working capital requirements, debt repayment, and capital expenditure. The meeting will be conducted via Video Conferencing or Other Audio Visual Means at 12:30 PM.

The preferential issue is entirely directed at persons belonging to the Non-Promoter category. Vijay Rathee is set to emerge as a significant shareholder with a proposed allocation of 13,17,391 shares, representing 12.06% of the post-issue equity capital. Vijaylaxmi Infra Projects Private Limited will receive 7,82,608 shares, accounting for 7.16% of the total equity capital post-allotment. Other public investors, including Shreevardhan Nitin Tupe and Yashvardhan Nitin Tupe, will also increase their stakes through this issuance.

Utilization of Funds

The company plans to utilize the net proceeds of the issue for specific corporate objectives. The funds will be deposited in a scheduled commercial bank until utilized.

Post-Issue Shareholding Pattern

The following table illustrates the proposed shareholding post-allotment, assuming full subscription.

The total promoter holding will decrease from 50.66% to 39.48% post-issue, while public shareholding will increase to 60.52%. The Board of Directors approved the issuance on July 02, 2026.

EGM and E-Voting Details

The 2nd EGM for FY 2026-27 will be held on Friday, July 31, 2026, at 12:30 P.M. through Video Conferencing or Other Audio Visual Means. Remote e-voting commences on Tuesday, July 28, 2026, at 9:00 A.M. and concludes on Thursday, July 30, 2026, at 5:00 P.M. Members holding shares as on the cut-off date of July 24, 2026, are eligible to vote. The notice was published in the Financial Express and Mumbai Lakshwadeep on July 10, 2026.