Orchid Pharma Limited has scheduled a meeting of its Board of Directors for Tuesday, October 20, 2026. The primary agenda is to consider and evaluate various options for raising funds through the issue of equity shares or other eligible securities.

The company filed a prior intimation with the National Stock Exchange of India Limited and BSE Limited on October 15, 2026, in compliance with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates prior notice for board meetings where significant corporate actions are discussed.

Potential fundraising mechanisms

The board will assess multiple avenues for capital infusion. These include the issuance of fully or partly convertible debentures, or a composite issue involving non-convertible debentures and warrants that entitle holders to apply for equity shares.

The proposed modes of issuance include:

• Qualified institutions placement
• Preferential issue
• Private placement
• Public issue of equity shares and/or debt securities
• Any other permissible mode or combination thereof

Any such action remains subject to statutory and regulatory approvals, including the approval of the company's members where applicable.

Regulatory compliance and filing details

The intimation was signed by Kapil Dayya, Company Secretary and Compliance Officer. The filing confirms that the board will deliberate on these financial instruments to determine the most appropriate path for capital acquisition.

Orchid Pharma held its 33rd Annual General Meeting on September 29, 2026, where members adopted the revised standalone and consolidated financial statements for the fiscal year ended March 31, 2026. The meeting, conducted via video conferencing, also saw the approval of several key governance and operational resolutions.

The company’s statutory auditors issued a clean report on the standalone financial statements. However, the consolidated auditor’s report contained qualifications. Management provided responses to these audit modifications in a statement detailing the impact of audit qualifications, which was included in the annual report. Additionally, secretarial auditors shared their remarks for FY26, with management responses incorporated into the Board’s Report.

Governance and leadership updates

The AGM addressed significant changes to the board composition and director remuneration. Members approved the following key appointments and ratifications:

• Reappointment of Whole-Time Director: Mr. Mridul Dhanuka (DIN: 00199441), who retired by rotation, was reappointed as Whole-Time Director via an ordinary resolution.
• New Appointment: Mr. Arjun Dhanuka (DIN: 00454689) was appointed as Whole-Time Director and his remuneration package was approved through a special resolution. He was previously designated as a Non-Executive, Non-Independent Director.
• Cost Auditor Ratification: The remuneration of the Cost Auditor for FY27 was ratified by ordinary resolution.
• Related Party Transactions: Approval was granted for material related party transactions with Otsuka Chemical (India) Private Limited. Due to potential interest conflicts, Chairmanship for this specific agenda item was temporarily transferred to Independent Director CA (Dr.) Manoj Kumar Goyal.

Meeting proceedings and attendance

The meeting commenced at 12:00 noon IST and concluded at 12:43 pm IST. Thirty-two members participated through video conferencing. Managing Director Manish Dhanuka served as Chairman, having been appointed due to the absence of Non-Executive Chairman Ram Gopal Agarwal. Other directors present included Whole-Time Director Arjun Dhanuka, Independent Directors CA (Dr.) Manoj Kumar Goyal, Shubha Singh, and Tanu Singla.

Key officials in attendance included Company Secretary Kapil Dayya, Chief Financial Officer Sunil Kumar Gupta, and Vice-President Finance Nishant Dalal. Representatives from statutory auditors Singhi & Co., secretarial auditors S. Dhanapal & Associates LLP, and scrutinizer M/s. P Muthukumaran & Associates were also present.

Voting and disclosure

Members exercised their voting rights through e-voting during the meeting. The company stated that e-voting results, along with the scrutinizer’s report, would be declared within two working days of the meeting’s conclusion. These results will be published on the company’s website, NSDL, and submitted to stock exchanges.