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.

Novelix Pharmaceuticals Limited has scheduled an Extra Ordinary General Meeting (EGM) on July 1, 2026, to seek shareholder approval for the preferential allotment of 12,00,000 equity shares to non-promoters, aiming to raise ₹6.84 crore. The issuance, priced at ₹57 per share including a premium of ₹47, is intended to bolster financial resources for specific growth initiatives including lab-scale technology transfer, land development, and the acquisition of quality control equipment. The board approved the proposal at a meeting held on June 4, 2026, and the company has fixed June 24, 2026, as the record date to determine shareholder eligibility for the meeting.

The proposed allotment targets 18 specific investors identified as public shareholders and complies with Section 42 and 62 of the Companies Act, 2013, along with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Venkateshwarlu Pulluru, Whole-time Director, signed the regulatory filing submitted to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The special resolution authorizes the board to complete the allotment within 15 days of the meeting, subject to necessary regulatory approvals.

Preferential Allotment Details

The breakdown of the proposed issuance to non-promoters is detailed below:

Utilization of Proceeds

The company plans to deploy the funds towards specific operational and developmental needs. The estimated utilization is as follows:

EGM and Voting Schedule

The EGM is scheduled for July 1, 2026, at 3:30 PM via video conferencing. Remote e-voting facilities will be available to eligible shareholders from June 28 at 9:00 am to June 30 at 5:00 pm. The voting rights shall be reckoned based on the paid-up value of shares held as on the cut-off date of June 24, 2026. The company has appointed Mr. Bharat Khaniwal, Practicing Company Secretary, as the scrutinizer for the e-voting process.