Jagsonpal Pharmaceuticals Limited has published newspaper advertisements confirming the dispatch of its postal ballot notice for a ₹40 crore share buyback proposal. The company sent the notice to stock exchanges on March 26, 2026, in compliance with SEBI regulations, following the earlier announcement of the buyback proposal.

Buyback Proposal Details

The company proposes to buy back up to 16,00,000 fully paid-up equity shares of face value ₹2 each at a price of ₹250 per share. This buyback represents 2.39% of the total number of equity shares in the company's paid-up equity share capital.

Newspaper Publication and Compliance

In a letter dated March 26, 2026, to BSE Limited and National Stock Exchange of India Limited, the company submitted copies of newspaper advertisements published in Business Standard (English and Hindi editions). The publication was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The postal ballot notice was electronically dispatched to shareholders on March 25, 2026, whose email addresses are registered with the company, depositories, or registrar and transfer agent.

E-Voting Schedule and Process

The company has engaged National Securities Depository Limited (NSDL) to provide e-voting facilities to all shareholders. The voting process will be conducted entirely through electronic means.

Shareholders whose names appear in the Register of Members or List of Beneficial Owners as on March 20, 2026, will be eligible to participate in the e-voting process.

Premium Over Market Price

The proposed buyback price of ₹250 per share represents a substantial premium over the prevailing market prices. The buyback price offers a premium of 43.55% and 44.23% over the closing prices on BSE and NSE respectively on March 6, 2026, being the day preceding the intimation date. The closing market prices on March 6, 2026, were ₹174.15 on BSE and ₹173.34 on NSE.

Financial Framework and Compliance

The maximum buyback offer size of ₹40 crore represents 18.35% of the aggregate paid-up equity share capital and free reserves as of March 31, 2025, which is within the prescribed limit of 25% under applicable regulations. The company has appointed Centrum Capital Limited as the SEBI registered Merchant Banker to manage the buyback process.

Mr. Ayush Khandelwal (ACS A41316, COP 19171), Proprietor of Ayush Khandelwal & Associates, Practicing Company Secretaries, has been appointed as the scrutinizer to ensure fair and transparent voting.

Shareholder Participation

All equity shareholders and beneficial owners as on the record date, excluding promoters and members of the promoter group, will be eligible to participate in the buyback. A minimum of 15% of the total number of shares proposed for buyback will be reserved for small shareholders.

The postal ballot notice and results will be made available on the company's website at www.jagsonpal.com and NSDL's e-voting portal at www.evoting.nsdl.com . If passed by the requisite majority, the resolution will be deemed to have been passed on Friday, April 24, 2026.

Jagsonpal Pharmaceuticals Limited has received a significant tax demand notice from the Income Tax Department, requiring disclosure under regulatory obligations. The pharmaceutical company informed stock exchanges about this development on March 13, 2026, in compliance with SEBI listing requirements.

Tax Assessment Details

The Income Tax Department's Faceless Assessment Unit issued an assessment order under sections 143(3) and 144B of the Income Tax Act 1961, dated March 12, 2026. This resulted in a tax demand notice under Section 156 of the Income Tax Act for Assessment Year 2024-25.

Reason for Tax Demand

The tax demand arose from the disallowance of certain expenses claimed by the company in its income tax return for Assessment Year 2024-25. The assessment order resulted in both the primary tax demand and potential penalties, bringing the total demand to Rs 4,81,61,360.

Company's Response Strategy

Jagsonpal Pharmaceuticals has outlined its response to the tax demand notice. The company plans to file an appeal against the assessment order before the concerned Appellate Authority within the prescribed timelines, along with any required pre-deposit.

Financial Impact Assessment

The company has expressed confidence in its position regarding the tax matter. Management believes it has merits in the case and does not expect any material impact on the company financially or otherwise. No penalties or restrictions have been imposed pursuant to the communication, and the company maintains that it will contest the demand through proper legal channels.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Pratham Rawal signed the regulatory filing, ensuring transparency with stakeholders about this significant development.