Sudarshan Pharma Industries Limited has notified the stock exchange of a preponment of its upcoming Board of Directors meeting, now rescheduled from Friday, May 22, 2026, to Thursday, May 21, 2026. The updated intimation was filed on May 18, 2026, pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and is in continuation of the company's earlier intimation for the board meeting dated May 18, 2026.

Board Meeting Agenda: Key Proposals

The board meeting has been convened to consider and approve several significant corporate actions, all subject to shareholders' approval. The agenda items reflect a major step in the company's capital market journey, centered on upgrading its listing status.

The following key proposals are scheduled to be considered at the meeting:

Migration from SME Platform to Main Board

The primary agenda of the board meeting is to deliberate on the migration of Sudarshan Pharma Industries' equity shares from the SME Platform of BSE Limited to the Main Board of BSE, as well as to initiate the process for listing on the Main Board of NSE. Both proposals are subject to shareholders' approval, which the company intends to seek through a Postal Ballot process. The board will also approve the Postal Ballot Notice along with the calendar of events for conducting the shareholder voting process, including approval for migration-related matters and other incidental items connected to the transition.

Filing Details

The intimation was signed by Sachin Mehta, Joint Managing Director of Sudarshan Pharma Industries Limited, and addressed to the Listing Department of BSE Limited. The communication was filed under reference number SPIL/CS/SE/2026-2027/18, dated May 18, 2026.

Sudarshan Pharma Industries Limited has filed a revised disclosure with BSE Limited in response to a query raised by the exchange seeking clarification on the commencement and conclusion time of the Board of Directors meeting held on May 15, 2026. The company confirmed that the board meeting commenced at 9:00 am and concluded at 9:30 am. The revised announcement was filed by Joint Managing Director Sachin Mehta on May 18, 2026, reaffirming all resolutions passed at the earlier meeting.

Board Approvals at a Glance

The board considered and approved several key resolutions at its May 15, 2026 meeting. The following table summarises the key decisions taken:

The board also approved the draft Offering Circular dated on or about May 15, 2026, and designated May 15, 2026 as the 'Relevant Date' for the purpose of the FCCB issue, in accordance with the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993, as amended.

Conversion and Pricing Details

The FCCB issuance carries significant equity conversion implications. The following table presents the key financial and conversion parameters as disclosed:

The number of equity shares on conversion has been calculated on the basis of the regulatory floor price of Rs.30.19, considering the issue size of up to USD 20 million equivalent to INR 191.86 Crores.

Authorised Signatories and Prior Approvals

The board has authorised Mr. Hemal Vasantra Mehta, Chairman & Managing Director, and/or Mr. Sachin Vasantra Mehta, Joint Managing Director, to sign all documents related to the FCCB issuance, including agreements, powers of attorney, undertakings, and indemnities, and to make any amendments to the documents before or after execution.

The FCCB issuance is backed by prior approvals at multiple levels. Shareholders of Sudarshan Pharma Industries had accorded their approval on August 11, 2025 for the proposed bond issuance. The company subsequently received an in-principle approval from BSE Limited dated September 25, 2025, paving the way for the board to formally deliberate and approve the matter. The final issuance remains subject to receipt of all applicable regulatory and statutory approvals as required under prevailing laws and exchange regulations.

Company Overview

Sudarshan Pharma Industries Limited is headquartered at 301, Aura Biplex, Premium Retail Premises, 7, S.V. Road, Borivali (West), Mumbai – 400092. The company's compliance correspondence can be directed to compliance@sudarshanpharma.com , and further information is available at www.sudarshanpharma.com .