Novelix Pharmaceuticals Limited held an Extraordinary General Meeting (EGM) on July 1, 2026, to approve the issuance of equity shares on a preferential basis. The special resolution was passed with 99.9999% of votes in favour, authorizing the company to raise capital through this mechanism. The meeting was conducted via video conferencing and chaired by Director Mr. Gnana Prakash Gattu.

The proceedings commenced at 3:30 PM and concluded at 3:54 PM. Mr. Venkateshwarlu Pulluru, Whole-time Director, and other board members were present. The meeting satisfied the requisite quorum, and the notice was taken as read after being circulated via prescribed modes.

E-Voting and Scrutiny

Pursuant to the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company provided a remote e-voting facility. This facility was available from 9:00 AM on June 28, 2026, until 5:00 PM on June 30, 2026. Additionally, members could vote via e-voting for 15 minutes during the meeting if they had not cast their votes remotely.

The Board engaged Central Depository Services (India) Limited (CDSL) to facilitate the remote e-voting process. Mr. Bharat Khaniwal, a Practicing Company Secretary from Jaipur, was appointed as the Scrutinizer to oversee the voting process.

Business Transacted

The primary agenda item was the special resolution regarding the issue of equity shares on a preferential basis. The resolution was passed with 99.9999% of votes in favour. The details of the resolution are as follows:

The Chairman informed members that the combined results of the remote e-voting and the e-voting conducted during the EGM would be announced within 48 hours of the meeting's conclusion. These results will be intimated to the stock exchanges and displayed on the company's website.

The meeting concluded with a vote of thanks after all business was transacted. The outcome of the voting will be communicated separately to the stock exchanges.

Novelix Pharmaceuticals has revised the notice for its Extra-Ordinary General Meeting (EGM) following observations by BSE regarding the preferential allotment of equity shares. The company disqualified two applicants, Sakshi Malani and Pallapothu Sivakrishna, from receiving shares after they were found to have violated trading regulations. Consequently, 175,000 equity shares initially proposed for them have been reallocated to other existing applicants.

The EGM is scheduled to be held on Wednesday, July 01, 2026, at 3.30 P.M. IST via Video Conferencing. The corrigendum, issued on June 17, 2026, updates the resolution and explanatory statement for Item No. 1 of the meeting agenda. The total number of shares proposed for allotment remains unchanged at 12,00,000.

Sakshi Malani was disqualified for selling 75 shares between February 18, 2026, and February 25, 2026, while Pallapothu Sivakrishna was disqualified for selling 77 shares between February 23, 2026, and February 24, 2026. Both sales occurred within 90 trading days preceding the relevant date, violating Regulation 159(1)(c) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The 150,000 shares originally allotted to Sakshi Malani have been redistributed equally among Suman Rajiv Bihani, Vedant Rajiv Bihani, and Prakash Gald, with each receiving 50,000 additional shares. The 25,000 shares meant for Pallapothu Sivakrishna have been reassigned to T Praveen Kumar. Additionally, a typographical error in the name of allottee Prakash Gadla has been corrected to Prakash Gald.

Revised List of Allottees

The updated list of proposed allottees and the number of shares to be issued to them is detailed below:

The corrigendum also includes revised tables detailing the percentage of shareholding post-preferential issue and the status of allottees as non-promoters. All other items of the EGM Notice remain unchanged. The document is available on the company’s website and the BSE platform.