Mankind Pharma Limited has initiated the process to appoint Anish Vanraj Bafna as a non-executive independent director, dispatching a postal ballot notice to shareholders on August 18, 2026. The company seeks approval via a special resolution through remote e-voting for Bafna’s appointment for a term of five consecutive years, effective from August 10, 2026.

The Board of Directors approved the appointment following a recommendation from the Nomination and Remuneration Committee. Bafna, who holds DIN 02925792, was initially appointed as an additional director designated as an independent director under Section 161 of the Companies Act, 2013. His final appointment is subject to shareholder ratification through the postal ballot mechanism mandated by Regulation 44 of the SEBI Listing Regulations.

E-Voting Timeline and Procedure

Shareholders whose names appear in the register of members or beneficial owners as of the cut-off date, August 14, 2026, are eligible to vote. The remote e-voting facility, facilitated by National Securities Depository Limited (NSDL), operates within the following timeline:

The voting results, along with the scrutinizer’s report from Neelesh Kumar Jain of N.K.J. & Associates, will be uploaded to the company’s website and stock exchanges within two working days of the voting conclusion.

Director Profile and Qualifications

Anish Vanraj Bafna brings over three decades of experience in the healthcare and medical devices sector. He previously served as Chief Executive Officer and Managing Director of Healthium Medtech Limited for more than eight years and currently holds the position of Non-Executive Chairman there. Prior to his tenure at Healthium, Bafna worked with Baxter International, serving as President for Japan and Regional Head for Emerging Asia, overseeing operations across India and Southeast Asia.

Bafna holds a Bachelor of Science degree in Chemistry from St. Xavier’s, Ahmedabad, and a Post Graduate Diploma in Management from IMDR, Pune. He has confirmed his independence under Section 149(6) of the Companies Act and Regulation 16(1)(b) of the Listing Regulations. Additionally, he is registered in the Independent Directors’ Databank maintained by the Indian Institute of Corporate Affairs.

Remuneration and Terms

As an independent director, Bafna will not be liable to retire by rotation. His remuneration structure includes sitting fees for attending board or committee meetings, reimbursement of expenses incurred for participation, and profit-related commission. These terms are subject to the limits prescribed under Sections 197 and 198 of the Companies Act, 2013, and applicable listing regulations. The board retains the authority to determine specific fee rates from time to time.

What the Numbers Show

The appointment introduces significant international healthcare management experience to the board without altering the promoter-controlled ownership structure. Bafna holds nil shareholding in Mankind Pharma as of the postal ballot notice date, ensuring his independence from financial interests in the company while contributing strategic oversight from his background in global medical device operations.

Mankind Pharma Limited has released the pledge on 28,280 equity shares of Bharat Serums and Vaccines Limited (BSVL). These shares constituted 38.68% of the paid-up equity share capital of BSVL.

The release occurred on August 17, 2026, following the completion of a realignment of security cover for the company's existing Non-Convertible Debentures (NCDs). The move removes the previous encumbrance on the BSVL stake held in favor of the Debenture Trustee on behalf of NCD holders.

Security Realignment Details

The company informed stock exchanges that it had received requisite approvals from NCD holders and BSE Limited on July 13, 2026, and July 21, 2026, respectively. In accordance with the terms of the Debenture Trust Deeds as amended, Mankind Pharma created revised security in favor of Catalyst Trusteeship Limited.

This revised security cover is established over tangible and intangible assets of the company and its subsidiaries. The new security structure replaces the earlier pledge on the BSVL shares.

The revised security cover stands at 1.26 times the amount of outstanding NCDs as on date. Consequently, no shares of BSVL are now under pledge for these NCDs.

Regulatory Compliance

The disclosure was made under Regulation 30 and Regulation 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also complies with the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021.

Hitesh Kumar Jain, Company Secretary and Compliance Officer, signed the intimation to the exchanges.