Sudarshan Pharma Industries Limited has dispatched the postal ballot notice to shareholders on May 25, 2026, seeking approval for the migration of its equity shares from the SME Platform of BSE Limited to the Main Board of BSE and for listing on the Main Board of National Stock Exchange of India Limited. The notice was published in Mumbai Lakshdeep and Financial Express. The remote e-voting period is scheduled from May 26, 2026, at 9:00 a.m. IST to June 24, 2026, at 5:00 p.m. IST.

Migration and Listing Proposals

The company's 24,06,58,870 equity shares of ₹1 each are currently listed and traded on the SME platform of BSE. Having been listed on March 22, 2023, for over three years with a paid-up capital exceeding ₹10 Crores, the company is eligible to migrate to the Main Board as per SEBI ICDR Regulations. The Board of Directors approved these proposals on May 21, 2026. The resolutions require a special majority, where votes cast by public shareholders in favor must be at least two times the votes cast against them.

Director Appointments

The postal ballot also includes resolutions for the appointment of two directors. Mr. Sanat Bhat (DIN: 08059016) is proposed for appointment as an Independent Director for a term of five years from May 1, 2026, to April 30, 2031. Additionally, Dr. Vinay Pandey (DIN: 10084203) is proposed for appointment as a Non-Executive Non-Independent Director, liable to retire by rotation. Both appointments were recommended by the Nomination & Remuneration Committee.

Voting and Oversight Details

National Securities Depository Limited (NSDL) has been engaged to facilitate the remote e-voting facility. Mr. Vishal N. Manseta, Practicing Company Secretary, has been appointed as the Scrutinizer to ensure the process is conducted fairly. The results of the postal ballot are expected to be announced on June 25, 2026. The notice has been dispatched electronically to members whose email addresses are registered with the company or depositories as of the cut-off date of May 22, 2026.

Sudarshan Pharma Industries Limited has revised the fixed exchange rate for its Foreign Currency Convertible Bonds (FCCB) issuance. The rate has been updated to ₹96.8441 per US Dollar (USD), up from the previously disclosed ₹95.93. This adjustment aligns with the RBI reference rate prevailing on the date of the subscription agreement between the company and the bondholders.

Revised Allotment Details

The company’s board had previously approved the issuance of FCCBs worth up to USD 20 million in one or more tranches. The bonds carry a coupon rate of 8% per annum and are due for maturity three years and two months from the date of being fully paid-up. The revised terms were communicated to the stock exchanges in compliance with SEBI regulations.

The following table summarises the key parameters of the issuance:

Regulatory Compliance and Approvals

The revision follows the company’s disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The issuance is based on shareholder consent obtained on August 11, 2025, and in-principle approval from BSE Limited dated September 26, 2025. The board has authorized Mr. Hemal Vasantra Mehta, Chairman & Managing Director, and Mr. Sachin Vasantra Mehta, Joint Managing Director, to complete the necessary formalities.