Sudarshan Pharma Industries Ltd has cancelled the meeting of its Board of Directors scheduled for June 18, 2026. The meeting was originally convened to consider and approve a proposal for raising funds through the issuance of various financial instruments. The cancellation was attributed to unavoidable reasons, as stated in a regulatory filing.

The Board had intended to evaluate the issuance of equity shares, convertible securities, warrants, or debt securities to bolster the company's capital base. The proposed fund-raising initiative was to be conducted through permissible methods such as private placement, preferential issue, qualified institutions placement, or a combination thereof.

Proposed Instruments and Methods

The company had outlined a broad spectrum of instruments for consideration. These included equity shares and convertible securities, which offer flexibility in structuring the capital raise. Additionally, the issuance of warrants and debt securities was on the table, providing multiple avenues to secure funding.

Regulatory Approvals

The implementation of the fund-raising proposal was subject to the receipt of necessary statutory and regulatory approvals. The meeting was held pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Sudarshan Pharma Industries Limited has incorporated a wholly-owned subsidiary in the United States to expand its global market presence. Sudarshan Industries Inc., also referred to as Sudarshan USA, was established on June 5, 2026, with a service address in Dover, Delaware. This strategic step is intended to enlarge the company's customer base in the USA and strengthen its international footprint.

The Board of Directors had previously approved the incorporation of this limited liability company on June 19, 2025. The company has subscribed to 1,00,00,000 shares of US $0.00001 each, aggregating to US $100, which is approximately ₹9,600. This investment represents 100.00% of the paid-up share capital of Sudarshan USA.

Subsidiary Details and Objectives

Sudarshan USA will engage in the business of buying, selling, manufacturing, and trading pharmaceuticals, antibiotics, drugs, medicines, and healthcare products. The entity will also handle neutraceuticals, ayurvedic supplements, medicinal preparations, vaccines, and Active Pharmaceutical Ingredients (APIs). The operations extend to chemical products and speciality chemicals.

The incorporation does not fall within related party transactions, and no promoter or group company holds an interest in the entity outside of the parent company. Mr. Sachin Mehta, Joint Managing Director of Sudarshan Pharma Industries Limited, has been appointed as the First Director of Sudarshan USA.

Regulatory and Financial Approvals

The acquisition required approval from the Reserve Bank of India under the Foreign Exchange Management Act, 1999. The company utilized the automatic route under the Foreign Exchange Management (Overseas Investment) Rules, 2022. The consideration for the acquisition was paid in cash, remitted following the necessary regulatory approvals.

The key details of the newly incorporated subsidiary are summarised below: