Natco Pharma promoter V.C. Nannapaneni created a pledge on 8,50,000 equity shares of the company in favor of Bajaj Financial Securities Limited. The transaction was reported to the stock exchanges on October 12, 2026, with the pledge creation date recorded as October 9, 2026.

The encumbrance covers shares with a face value of ₹2 each. This specific pledge accounts for 0.47% of the company's total share capital. Prior to this event, the promoter held no encumbered shares, indicating this is a new addition to the promoter's pledged holdings.

Shareholding and Encumbrance Details

The disclosure highlights the shift in the promoter's holding status from unencumbered to partially pledged. The following table summarizes the key metrics associated with this corporate action:

Regulatory Compliance

This disclosure was made under Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. It also complies with Regulation 7(2) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The filing confirms that the encumbrance type is a pledge, distinct from other forms such as lien or non-disposal undertakings.

What the Numbers Show

The pledge represents approximately 3.03% of the promoter's total holding in Natco Pharma. While the absolute number of shares is significant, the impact on the overall promoter stake remains contained, as the pledged portion constitutes less than half a percent of the company's total share capital. The beneficiary, Bajaj Financial Securities Limited, now holds security interest over these specific shares until the encumbrance is released or invoked.

Natco Pharma Limited shareholders approved a proposal to raise funds of up to ₹2,000 crore through various equity instruments. The decision was taken during the 43rd Annual General Meeting held on September 30, 2026.

The special resolution allows the company to issue securities via preferential allotment, rights issue, private placement, or qualified institutional placement. This flexibility enables the board to choose the most suitable method for capital infusion in one or more tranches.

Dividend and Financials Adopted

The meeting confirmed three interim dividends paid during FY26, aggregating to ₹5.00 per share. Shareholders also adopted the audited annual financial statements for the fiscal year 2025-26. The statutory auditors' report was unqualified, with no adverse observations noted.

Key Resolutions Passed

The following items were considered and approved by the members:

Governance and Attendance

The meeting was conducted through video conference with e-voting facilities available from September 27 to September 29, 2026. A total of 51 members participated via remote e-voting and live voting during the session. The Chairman and Managing Director, V.C. Nannapaneni, presided over the proceedings, while Vice Chairman and CEO Rajeev Nannapaneni presented the Chairman's speech.

The results of the voting are scheduled to be declared within two working days of the meeting's conclusion.

Voting Results Detail

Official voting results released on September 30, 2026, confirmed that all resolutions passed with requisite majorities. Out of 4,22,879 shareholders as of the cut-off date of September 25, 2026, votes were cast on all agenda items.

Resolution 1: Adoption of Financial Statements

Resolution 2: Confirmation of Interim Dividends

Resolution 3: Re-appointment of Director

P.S.R.K. Prasad was re-appointed as a Director liable to retire by rotation. Institutional investors showed slight dissent compared to other resolutions.

Resolution 4: Ratification of Cost Auditor Remuneration

Resolution 5: Fund Raise Proposal

The special resolution to raise up to ₹2,000 crore received significant support, though institutional investors registered higher dissent than on other matters.

What the Numbers Show

While all resolutions passed comfortably, the voting pattern reveals a divergence in investor sentiment regarding capital expansion. Dissent from institutional holders peaked at 4.21% for the ₹2,000 crore fund raise proposal (Resolution 5), compared to just 0.86% for the adoption of financial statements (Resolution 1) and 0.00% for dividend confirmation (Resolution 2). This suggests that while shareholders support current operational performance and payouts, there is cautious skepticism among institutional investors regarding the scale and method of future equity dilution.