Shukra Pharmaceuticals Limited has issued a postal ballot notice to shareholders seeking approval for its proposed name change to "Shukra Medtech Limited" and related alterations to its Memorandum of Association (MOA). The remote e-voting period commences on August 28, 2026, and concludes on September 26, 2026.

The board of directors approved the strategic shift during a meeting held on August 22, 2026. The proposals require shareholder consent via postal ballot and regulatory clearances from the Registrar of Companies. The company also convened its 33rd Annual General Meeting (AGM) for September 25, 2026.

Voting Timeline and Process

The company engaged National Securities Depository Limited (NSDL) to facilitate the e-voting process. Shareholders whose names appear on the register as of the cut-off date, August 21, 2026, are eligible to vote. The voting rights are proportional to the paid-up equity share capital held on this date.

Mrs. Rupal Patel, Practicing Company Secretary, has been appointed as the Scrutinizer to ensure the fairness and transparency of the e-voting process. The results will be declared within two working days or three days, whichever is earlier, from the conclusion of the voting period.

Strategic Expansion into MedTech

The board sanctioned the alteration of the Main Objects Clause in the MOA to enable operations in Medical Technology (MedTech). This expansion allows the company to undertake activities including:

• Research, development, design, and manufacturing of medical devices, equipment, and diagnostic systems
• Development of surgical robotic systems, implantable devices, and wearable healthcare devices
• Creation of artificial intelligence-based healthcare technologies and digital health platforms
• Distribution, marketing, and trading of medical technology products and solutions

The company stated this shift aims to provide a broader corporate identity and explore business opportunities in the medical technology sector alongside existing pharmaceutical activities. The explanatory statement notes that the company has received encouraging business interest and developed strategic connections in the MedTech sector.

Regulatory Compliance and Auditor Certificate

The proposed name change requires compliance with Regulation 45 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. An independent certificate from Shah Sanghvi & Associates confirms the company’s adherence to specific conditions:

• Time elapsed: More than one year has passed since the last name change.
• Asset investment: The amount invested in the new activity exceeds 50% of the company’s total assets.
• Revenue contribution: No revenue has been generated from the new activity in the preceding year, meaning the condition requiring 50% of total revenue from the new activity is not satisfied. However, the change is permitted under other clauses of the regulation.

AGM Details and Corporate Governance

The board fixed the date for the 33rd Annual General Meeting (AGM) for September 25, 2026, at 12:00 pm via Video Conferencing (VC). Key governance matters addressed include:

• Approval of the Director's Report and Secretarial Audit Report for the year ended March 31, 2026
• Appointment of Mrs. Rupal Patel as Scrutinizer for Remote E-voting and voting at the AGM
• Closure of the Register of Members and Share Transfer Books from September 19, 2026, to September 25, 2026 (both days inclusive)

Trading Window Closure

In compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for designated employees remained closed from August 17, 2026, to August 24, 2026. This closure continues until 48 hours after the public announcement of the board meeting outcome.

Shukra Pharmaceuticals has executed a term sheet with Borns Medical Robotics Pte Ltd for a strategic joint venture focused on the design, manufacture, distribution and servicing of AI-enabled surgical robotic systems. The agreement marks a formal step towards establishing B&S Robotics Private Limited, with Shukra holding a 60% stake and Borns holding 40%.

Joint venture structure

The key parameters of the proposed joint venture are outlined below:

The formation of B&S Robotics Private Limited represents Shukra's entry into the medical robotics space. Shukra will contribute capital, its sales and distribution network, skilled team, market-development capabilities, branding support, infrastructure initiatives and financing ecosystem. Borns will contribute its technology platform, surgical robotic systems, relevant technology/IP support, manufacturing know-how and related technical capabilities.

Timeline and conditions

The term sheet was executed on August 13, 2026. The parties intend to enter into definitive agreements, including a Shareholders' Agreement, Articles of Association, Master IP Licensing Agreement and other ancillary documents. These long-form agreements are targeted within approximately 120 days from the execution of the term sheet, subject to satisfaction of applicable conditions precedent.

Conditions precedent include the establishment of the Borns Singapore entity, completion of mutual due diligence, independent valuation, applicable regulatory/FEMA/FDI confirmations, necessary corporate approvals, IP due diligence and regulatory pathway confirmation. The transaction is not currently classified as a related party transaction.

Strategic outlook

The joint venture aims to address the growing demand for advanced surgical technology across India and the APAC region. The term sheet contemplates that, subject to achievement of agreed milestones and applicable regulatory approvals, the parties may pursue a future demerger and listing of the joint venture entity on BSE and NSE. This potential listing is stated as a strategic objective rather than a guaranteed commitment.

The initial paid-up capital of B&S India is yet to be determined under the definitive agreements. Subscription is proposed in the ratio of 60:40. The term sheet itself does not specify any fixed immediate financial commitment or final investment amount by Shukra Pharmaceuticals.