Astonea Labs Limited has submitted the voting results and scrutinizer's report for its Extraordinary General Meeting (EGM) held on March 27, 2026, in compliance with Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company announced that all eight resolutions presented to shareholders were approved with requisite majority, including the adoption of new Articles of Association.

Meeting Details and Attendance

The EGM was conducted at the company's corporate office located at 63, Industrial Area, Phase-2, Panchkula, Haryana. The meeting commenced at 11:00 A.M. (IST) and concluded at 12:35 P.M. (IST), with a total of 8 members present in person.

Leadership and Voting Process

Mr. Ashish Gulati, Chairman, presided over the proceedings, while Mr. Ankit Kapoor, Company Secretary, managed the meeting formalities. Mr. Himanshu Gupta of Himanshu S K Gupta & Associates was appointed as scrutinizer to oversee both the e-voting process and poll voting at the meeting.

E-Voting and Poll Results

The company facilitated remote e-voting through NSDL from March 23, 2026 (Monday) at 9:00 A.M. to March 26, 2026 (Thursday) at 5:00 P.M. The cut-off date for determining eligible shareholders was March 20, 2026.

Resolution Outcomes

All eight resolutions were unanimously approved by shareholders with 100% votes in favor. The resolutions covered critical corporate governance matters including IPO object variation, related party transactions, and executive remuneration.

Articles of Association Adoption

In a formal disclosure to BSE Limited under Regulation 30, the company confirmed the adoption of new Articles of Association effective from March 27, 2026. The new AoA aims to align governance provisions with the Companies Act, 2013, incorporate SEBI listing requirements, clarify member and director responsibilities, and strengthen corporate governance practices.

Key Approved Resolutions

The approved resolutions included variation in IPO object terms for acquisition of equity in Damaira Pharmaceuticals Pvt. Ltd., ratification of cost auditor remuneration for FY 2025-26, adoption of new Articles of Association, and approval of material related party transactions with Astonea One Private Limited, Ascot Biolabs Private Limited, and Shinto Organics for FY 2026-27.

Regulatory Compliance

The voting results and scrutinizer's report were submitted to BSE Limited under Regulation 44(3) of SEBI regulations. Company Secretary Ankit Kapoor confirmed that all procedural requirements were met and results would be made available on the company's website at www.astonea.org for transparency and regulatory compliance.

Astonea Labs Limited has received shareholder approval for a strategic reallocation of its unutilised Initial Public Offer (IPO) proceeds, marking a significant step in the company's expansion strategy. The approval was granted at an Extraordinary General Meeting held on 27th March, 2026, enabling the pharmaceutical company to pursue new growth opportunities through strategic investment.

IPO Proceeds Utilisation Status

As of 26th February, 2026, Astonea Labs had unutilised IPO proceeds of ₹8,08,68,232 out of total IPO proceeds of ₹37,66,50,000. The company's original IPO allocation and current utilisation status across various objects shows varying degrees of implementation:

Approved Reallocation Details

The shareholders have approved the reallocation of ₹6,25,00,000 from the unutilised IPO proceeds towards acquiring equity shares in Damaira Pharmaceuticals Private Limited. This reallocation constitutes a 16.59% variation in the total IPO proceeds and was approved without any dissenting shareholders, as confirmed by the Scrutinizer's Report.

Strategic Investment Rationale

The investment in Damaira Pharmaceuticals Private Limited is designed to enhance Astonea Labs' growth prospects through multiple strategic advantages. The company expects to gain access to new markets while expanding its product portfolio with innovative offerings. Additionally, the investment is anticipated to generate operational synergies and support revenue stream diversification, ultimately strengthening the company's long-term business position.

Regulatory Compliance and Approval Process

The variation in IPO objects received comprehensive regulatory approval through a structured process. The Board of Directors initially approved the proposal on 27th February, 2026, following an earlier board approval for acquiring up to 33.33% equity stake in Damaira Pharmaceuticals on 3rd December, 2025. Shareholders had previously approved the acquisition of up to 33.33% equity stake at the Annual General Meeting held on 27th December, 2025.

Implementation Timeline

Astonea Labs expects to complete the reallocation and acquisition within six months from the date of the Special Resolution passed by shareholders. The company has confirmed that this reallocation will not affect the overall size of the IPO issue or materially impact other IPO objects, which will continue as originally planned in the Prospectus dated 30th May, 2025.