Mahamaya Lifesciences Limited has submitted its mandatory annual disclosure to BSE Limited, confirming compliance with SEBI regulations regarding promoter shareholdings for the financial year ended 31st March 2026. The pharmaceutical company filed the disclosure under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 on 3rd April 2026.

Regulatory Compliance Declaration

The disclosure was formally submitted by Company Secretary and Compliance Officer Shilpi Bharadwaj to BSE Limited's listing department. The filing confirms that no encumbrance has been created on shares held by the promoter and promoter group during the financial year ended 31st March 2026.

Promoter Group Confirmation

Managing Director Krishnamurthy Ganesan, acting on behalf of the promoter and promoter group, provided a separate declaration dated 2nd April 2026. The declaration specifically states that members of the promoter and promoter group, along with persons acting in concert, have not made any encumbrance of shares, directly or indirectly, during the financial year ended 31st March 2026.

Company Information

Mahamaya Lifesciences Limited, formerly known as Mahamaya Lifesciences Pvt. Ltd., operates from its registered office in Gurugram, Haryana. The company maintains its corporate headquarters at Spaze ITech Park, Sector-49, Sohna Road, and holds ISO 9001:2015 certification for quality management systems.

SEBI Compliance Framework

The disclosure under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 is a mandatory annual requirement for listed companies. This regulation ensures transparency in promoter shareholding patterns and prevents unauthorized encumbrance of shares that could affect minority shareholders' interests. The timely filing demonstrates the company's commitment to maintaining regulatory compliance and corporate governance standards.

Mahamaya Lifesciences Limited has received board approval to extend the timeline for deploying its unutilised Initial Public Offer proceeds to March 31, 2028. The decision, approved through a circular resolution on March 10, 2026, addresses technical execution factors affecting the implementation of the company's manufacturing projects.

IPO Proceeds Utilisation Status

The company's IPO proceeds utilisation presents a clear picture of current deployment and remaining funds:

The company confirmed that there is no change or variation in the objects of the issue as stated in the prospectus, with the approval pertaining solely to rescheduling the implementation timeline for deployment of remaining funds.

Technical Execution Factors

The revised timeline addresses several project execution considerations that have impacted the original deployment schedule. The company received net IPO proceeds in November 2025, resulting in a limited execution window during Financial Year 2025-26 for implementing capital expenditure projects involving integrated manufacturing facilities.

The implementation of proposed projects, particularly the new Technical Manufacturing Plant, involves multiple sequential and interdependent stages. These include:

• Detailed engineering design and civil structural development
• Procurement of specialised plant and machinery
• Installation of utilities and electrification systems
• Equipment erection, alignment, and trial runs
• System stabilisation, validation, and final commissioning

Enhanced Project Configuration

Based on technical evaluation and engineering assessment, the company has incorporated enhancements in plant configuration, machinery specifications, and certain civil and structural components. These improvements are designed to enhance operational efficiency, scalability, and compliance standards.

The procurement process for specialised plant and machinery involves comprehensive cycles including engineering finalisation, manufacturing lead time, inspection, dispatch, installation, and commissioning. This necessitates phased vendor engagement and execution sequencing to ensure optimal configuration and integration of systems.

Compliance and Future Reporting

The company maintains its unutilised IPO proceeds in compliance with applicable provisions of the Companies Act, 2013, and SEBI regulations. The funds are temporarily parked in permitted interest-bearing instruments pending deployment.

Mahamaya Lifesciences confirmed that the rescheduled implementation timeline aligns with industry-standard execution cycles for integrated manufacturing facilities of comparable scale and complexity. The company will continue disclosing IPO proceeds utilisation in accordance with Regulation 32 of SEBI LODR Regulations, including review by the Audit Committee and reporting by the Monitoring Agency.