Gufic Biosciences Limited has approved a further investment of ₹5.75 crore in Saraswat Co-operative Bank Limited to strengthen its existing banking relationship and support its treasury management strategy. The Board of Directors approved the subscription to 57,50,800 equity shares at a face value of ₹10 each during a meeting held on May 29, 2026. This strategic investment is expected to enhance the company's banking engagement and provide potential long-term benefits through investment appreciation and dividend income.

The transaction does not fall under related party transactions, and the promoter or promoter group has no interest in the acquisition. The company currently holds 7,500 equity shares in the bank, which will increase to 57,58,300 shares post-acquisition. The consideration for the acquisition will be paid in cash, and the entire process is slated for completion within four months.

Saraswat Co-operative Bank, incorporated in 1918, operates as a scheduled bank offering a suite of banking and financial services, including retail and wholesale banking and treasury operations. As of March 31, 2025, the bank reported a total income of ₹5064.53 crore and a net worth of ₹5484.91 crore. The bank's total subscribed capital stands at 32,01,75,196 shares of ₹10 each.

The investment aligns with Gufic Biosciences' regular utilisation of banking and credit facilities from Saraswat Bank for its business operations and expansion requirements. The company stated that the subscription to additional equity shares is in line with its existing credit exposure and broader investment strategy.

Financials of Saraswat Co-operative Bank

Gufic Biosciences Limited has re-appointed M/s. Poddar & Co. as its Cost Auditor and appointed Mrs. Saroj R. Kirdolia as the Internal Auditor for the financial year 2026-27. The Board of Directors approved these appointments at its meeting held on May 29, 2026, to ensure continued compliance with regulatory requirements and strengthen internal governance mechanisms.

Cost Auditor Re-appointment

The Board decided to re-engage M/s. Poddar & Co., Cost Accountants, as the Cost Auditors of the company for the upcoming financial year. The firm, led by proprietor Mr. Sandeep Poddar, brings 15 years of professional experience in cost and management accounting across diverse industries. M/s. Poddar & Co. has a track record of conducting statutory cost audits for clients in sectors including pharmaceuticals, chemicals, and infrastructure.

Internal Auditor Appointment

In a separate decision, the Board appointed Mrs. Saroj R. Kirdolia as the Internal Auditor of the company effective from the financial year 2026-27. Mrs. Kirdolia is a Chartered Accountant with over seven years of experience in auditing and taxation. She has been associated with the company for the past six years and is responsible for evaluating internal controls and business processes. Her tenure will continue until the cessation of her employment or until further decided by the Board.

Key Appointment Details

The following table summarizes the key particulars regarding the appointments:

The meeting, which commenced at 7.30 p.m. and concluded at 9.05 p.m., was conducted in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.