Bal Pharma has called for a postal ballot to seek shareholder approval for the preferential allotment of 10,00,000 warrants to promoter Mr. Shailesh Siroya. The warrants, priced at ₹81 each including a premium of ₹71, aim to raise ₹8.10 crore to part-fund the commencement of a greenfield API manufacturing facility at Yadagiri, Karnataka. The company has already acquired 5 acres of land and obtained environmental clearance for the project.

The Board of Directors approved the proposal in its meeting held on May 27, 2026. The issue requires a special resolution from members pursuant to Sections 42 and 62(1)(c) of the Companies Act, 2013, and Chapter V of the SEBI (ICDR) Regulations. The "Relevant Date" for pricing purposes is July 09, 2026, with the determined price of ₹81 per warrant being higher than the minimum specified price of ₹80.14 computed under SEBI regulations.

Voting Schedule and Process

The company has engaged National Securities Depository Limited (NSDL) to facilitate remote e-voting. The voting period commences on July 10, 2026, at 09:00 A.M. IST and concludes on August 08, 2026, at 5:00 P.M. IST. The cut-off date for determining eligibility is July 03, 2026. Mr. Parameshwar Bhat, Practicing Company Secretary, has been appointed as the Scrutinizer to oversee the process.

The results of the postal ballot will be announced at the company's registered office on or before August 11, 2026. Shareholders holding shares in demat mode can vote through their depository participants or the NSDL e-Voting website, while those holding physical shares must use the NSDL e-Voting system.

Issue Terms and Shareholding Impact

Each warrant is convertible into one equity share of face value ₹10 within a period of 18 months from the date of allotment. The warrant holder must pay 25% of the consideration (₹20.25 per warrant) upon allotment and the balance 75% (₹60.75 per warrant) prior to conversion. If warrants are not converted within the stipulated 18-month period, the amount paid will be forfeited.

The preferential issue will increase the promoter holding. Mr. Shailesh Siroya's holding is expected to rise from 17.24% to 22.13% on a fully diluted basis. The total promoter holding, including bodies corporate and foreign promoters, will increase from 50.85% to 53.76%. The resulting equity shares will rank pari-passu with existing shares.

The warrants and the resulting equity shares will be subject to lock-in periods as specified under Regulation 167 of the SEBI ICDR Regulations. The company confirmed that neither the company nor its promoters or directors are willful defaulters or fugitive economic offenders.

Bal Pharma Ltd has announced that Mr. Shreepada ML has commenced his duties as the Company Secretary and Compliance Officer effective June 23, 2026. The appointment places Mr. Shreepada ML in charge of the company's regulatory compliance and secretarial functions, ensuring adherence to statutory requirements and corporate governance norms.

Appointment Details

The company confirmed the development through a regulatory filing. Mr. Shreepada ML assumes the critical role responsible for overseeing the company's compliance framework.

The move comes as part of the company's routine administrative updates.