Aurobindo Pharma has announced an extension to its timeline for completing the acquisition of up to 26% stake in Swarnaakshu Solar Power Private Limited. The pharmaceutical company informed stock exchanges that the acquisition will now be completed on or before June 30, 2026, subject to receipt of approval from the concerned state government.

Updated Timeline and Regulatory Status

The company has extended its acquisition timeline due to pending receipt of state government approval for setting up a captive solar power plant. This represents a shift from the previously communicated timeline, as the company continues to await necessary regulatory clearances.

Previous Communications

The company has maintained regular communication with stock exchanges regarding this acquisition, with previous letters dated February 6, 2025, March 28, 2025, June 30, 2025, September 26, 2025, and December 30, 2025. The latest update reflects the ongoing regulatory process required for the captive solar power project.

Strategic Solar Investment

The acquisition remains part of the company's renewable energy strategy, involving both a captive solar power purchase agreement and the equity stake in Swarnaakshu Solar. The investment aligns with the pharmaceutical major's commitment to sustainable energy solutions and operational efficiency through renewable energy adoption.

Aurobindo Pharma Limited has successfully concluded its postal ballot process with shareholders overwhelmingly approving the appointment of Dr. Punita Kumar Sinha as Independent Director. The voting process, conducted entirely through remote e-voting system, concluded on March 28, 2026, with the resolution passing with requisite majority.

Voting Results and Participation

The postal ballot witnessed strong shareholder participation across all categories. MRR & Associates, Company Secretaries, served as the scrutinizer for the voting process and submitted their report on March 30, 2026.

Category-wise Voting Breakdown

The voting saw unanimous support from the promoter and promoter group, while institutional and non-institutional public shareholders also demonstrated strong approval.

Promoter and Promoter Group

• Shares Held: 300,948,721
• Votes Polled: 300,948,721 (100.00% participation)
• Votes in Favor: 300,948,721 (100.00%)
• Votes Against: 0 (0.00%)

Public Institutions

• Shares Held: 220,994,604
• Votes Polled: 194,281,955 (87.91% participation)
• Votes in Favor: 188,971,509 (97.27%)
• Votes Against: 5,310,446 (2.73%)

Public Non-Institutions

• Shares Held: 58,858,298
• Votes Polled: 18,214,325 (30.95% participation)
• Votes in Favor: 18,201,009 (99.93%)
• Votes Against: 13,316 (0.07%)

Director Appointment Details

The approved resolution pertains to the appointment of Dr. Punita Kumar Sinha (DIN: 05229262) as Independent Director of the company. Key aspects of the appointment include:

Postal Ballot Process Timeline

The postal ballot process was conducted in accordance with regulatory requirements and MCA circulars. The company followed a structured timeline for the voting process:

• Notice Date: February 9, 2026
• Notice Dispatch: February 24, 2026
• Advertisement Publication: February 25, 2026
• Cut-off Date: February 20, 2026
• Voting Commencement: February 27, 2026 (9:00 AM IST)
• Voting Conclusion: March 28, 2026 (5:00 PM IST)
• Scrutinizer Report: March 30, 2026

Regulatory Compliance and Documentation

The postal ballot was conducted in compliance with Section 108 and 110 of the Companies Act, 2013, and various MCA circulars. Kfin Technologies Limited facilitated the e-voting process, while the voting results and scrutinizer's report have been uploaded on the company's website and the e-voting platform. The company has 250,291 shareholders on record as of the cut-off date, with the process conducted entirely through electronic means without physical dispatch of postal ballot forms.