Asston Pharmaceuticals concludes EGM on preferential share issue

Asston Pharmaceuticals concluded its second Extraordinary General Meeting (EGM) for the fiscal year 2026-27 on July 31, 2026, seeking shareholder approval for a special resolution to issue equity shares on a preferential basis. The meeting, held via Video Conferencing/Other Audio Visual Means (OAVM), represents a key corporate action for the company’s capital structure, though the specific terms of the issuance were not detailed in the proceedings summary.

The meeting commenced at 12:30 P.M. and concluded at 12:51 P.M., adhering to the regulatory frameworks set by the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI). Mr. Ashish Narayan Sakalkar, Managing Director, chaired the proceedings after being appointed Chairman of the Meeting by the members. The requisite quorum was present, allowing the business to proceed in accordance with the Companies Act, 2013.

Shareholders exercised their voting rights through remote e-voting facilitated by National Securities Depository Limited (NSDL). The remote e-voting window opened on July 28, 2026, at 9:00 A.M. and closed on July 30, 2026, at 5:00 P.M. Members who did not vote during this period could cast their votes electronically during the EGM itself. The voting facility remained open for an additional 15 minutes post-conclusion of the meeting to ensure maximum participation.

Ms. Pragya Jain, a Practicing Company Secretary, served as the Scrutinizer for the meeting, appointed by the Board to ensure the fairness and transparency of the voting process. M/s Panchal SK and Associates acted as the Statutory Auditor during the proceedings. The Company Secretary, Mr. Rishi Upadhaya, informed members that no requests for speaker registration had been received, and any prior questions had been addressed directly to concerned shareholders.

Key Attendees

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

Name	Designation
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

Resolution Details

The single agenda item placed before shareholders was classified as a Special Resolution:

Item No.	Details of the Agenda	Business Type	Mode of Voting
1	To issue equity shares on preferential basis	Special	Remote e-voting and e-voting during the EGM

The combined results of the remote e-voting and instant e-voting during the EGM will be declared within two working days from the conclusion of the meeting. The final outcome, along with the Scrutinizer's Report, will be uploaded to the company’s website and submitted to BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.59%	+7.70%	-16.25%	-19.27%	-41.41%	-46.38%

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.

Purpose	Amount (₹ In Cr.)	Timeline
Funding incremental working capital requirements	19.22	Within 1 year from date of receipt
Repayment and/or prepayment of borrowings	2.00	Within 1 year from date of receipt
Funding capital expenditure for machinery	2.00	Within 1 year from date of receipt
General Corporate Purpose and issue expenses	4.50	Within 1 year from date of receipt

Post-Issue Shareholding Pattern

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

Name of the Proposed Allottees	Category	Post-issue Holding	% of total equity capital
Vijay Rathee	Public	13,17,391	12.06
Vijaylaxmi Infra Projects Private Limited	Public	7,82,608	7.16
Shreevardhan Nitin Tupe	Public	1,01,956	0.93
Yashvardhan Nitin Tupe	Public	54,795	0.50
Swapneel Pradeep Rane	Public	21,739	0.20
Jayaram Chitturi	Public	21,739	0.20
Padamavathi Chitturi	Public	21,739	0.20
Sumit Shrichand Krishnani	Public	21,739	0.20
Neelam R Kohli	Public	21,739	0.20
Vijay Boloor	Public	21,739	0.20
Kunal Jeswani	Public	21,739	0.20
Vashi Neha Parimal	Public	17,391	0.16
Riya Kishor Rajnani	Public	6,217	0.06
Harshad Santosh Talreja	Public	5,217	0.05
Jitender N. Kewalramani	Public	21,739	0.20

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.