Godavari Drugs Limited's Board of Directors convened on March 18, 2026, to approve significant capital raising initiatives through the allotment of convertible warrants and equity shares on preferential basis. The meeting, held at the company's registered office, concluded key decisions that strengthen the pharmaceutical company's capital structure.

Convertible Warrants Allotment

The board approved the allotment of 23,60,065 convertible warrants at a warrant issue price of Rs.89/- each, aggregating to Rs.21,00,45,785/-. These warrants were issued exclusively to promoters on preferential basis, following the in-principle approval granted by BSE Limited.

The company has already received 25% of the warrant issue price, totaling Rs.5,25,11,446.25/-, representing the warrant subscription price. The warrants were distributed among nine promoter entities, with Mohit Jaju receiving the largest allocation of 4,00,065 warrants, followed by Mukund Kakani with 4,69,000 warrants and Sushma Kakani with 4,23,000 warrants.

Equity Shares Allotment

Simultaneously, the board approved the allotment of 25,96,935 equity shares of face value Rs.10/- each at an issue price of Rs.89/- per share. The shares carry a premium of Rs.79/- per share, with the total allotment value reaching Rs.23,11,27,215/-.

The equity shares were allocated to both promoters and non-promoters, with the majority going to public category investors. Notable allocations include Suryatej Advisors LLP and Sachin Kasera, each receiving 2,24,725 shares, while Satya Foundation also received an identical allocation.

Regulatory Compliance and Approval

Both allotments were executed pursuant to the in-principle approval granted by BSE Limited through Letter Reference No. LOD/PREF/PB/FIP/1795/2025-26 dated March 4, 2026. The preferential allotment process demonstrates the company's adherence to regulatory requirements and transparent capital raising practices.

The board meeting commenced at 5:30 PM and concluded at 6:00 PM, with Company Secretary and Compliance Officer Venkatesh Achanta overseeing the proceedings. The successful completion of these allotments positions Godavari Drugs Limited for enhanced financial flexibility and growth opportunities in the pharmaceutical sector.

Godavari Drugs Limited successfully concluded its 1st Extra-Ordinary General Meeting (EGM) for FY 2025-26 on February 12, 2026, with shareholders demonstrating strong support for the company's capital raising initiatives. The meeting, conducted through video conferencing in compliance with regulatory guidelines, saw overwhelming approval for two critical special resolutions.

Meeting Overview and Participation

The EGM commenced at 11:00 AM (IST) and concluded at 11:30 AM (IST), including additional time for e-voting. A total of 46 members attended the meeting through video conferencing, ensuring adequate quorum for the proceedings.

Board and Key Personnel Attendance

The meeting was chaired by Mr. Ghanshyam Jaju, Chairman and Non-Executive Director. All directors and key management personnel participated through video conferencing, demonstrating comprehensive leadership engagement.

Resolutions and Voting Results

Shareholders considered two special resolutions, both receiving exceptional support with 99.9998% votes in favor. The voting process combined remote e-voting (conducted from February 09-11, 2026) and insta-poll facilities during the meeting.

Resolution 1: Equity Shares on Preferential Basis

Resolution 2: Convertible Warrants on Preferential Basis

The second resolution regarding convertible warrants issuance to promoters achieved identical voting results, with 4360720 votes in favor out of 4360729 total votes polled, representing 99.9998% approval.

Scrutinizer Oversight and Compliance

Mrs. Vidya Harkut from VSS & Associates, a practicing Company Secretary (Membership No. 7086), served as the appointed scrutinizer. She was responsible for supervising both the remote e-voting process and the electronic voting system during the meeting, ensuring compliance with Section 108 of the Companies Act, 2013 and SEBI regulations.

The scrutinizer confirmed that all voting procedures were conducted in accordance with regulatory requirements, with proper safeguards for electronic voting and comprehensive documentation of the process. The voting rights were determined based on the record date of February 05, 2026, with 7416 total shareholders on record.

Regulatory Compliance and Documentation

The company fulfilled all regulatory obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting proceedings, voting results, and scrutinizer's report were properly documented and submitted to BSE Limited within the prescribed timeframe.

The successful completion of the EGM with overwhelming shareholder support positions Godavari Drugs Limited to proceed with its planned capital raising initiatives through preferential equity shares and convertible warrants issuance.