Sudarshan Pharma Industries promoter group members pledged a combined 64,53,147 equity shares to secure a loan taken by the company. The encumbrance was created on August 13, 2026, and disclosed to the BSE on September 9, 2026.

The pledge involves four entities within the promoter group: Hemal V Mehta HUF, Mrs. Devangi Hemal Mehta, Mrs. Namrata Sachin Mehta, and Sachin V Mehta HUF. All shares were pledged in favor of Gangabase Barter Private Limited.

Pledge Details

The disclosure was made under Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing notes that no shares held by these promoters were previously encumbered prior to this transaction.

What the Numbers Show

The total pledged stake represents approximately 2.92% of the company's total share capital. The concentration of the pledge with a single entity, Gangabase Barter Private Limited, indicates a consolidated financing arrangement for the corporate loan rather than disparate personal borrowings by individual promoters.

The board of Sudarshan Pharma Industries approved the acquisition of a 9.50% stake in MedTherapy Biotechnology Inc., a US-based cancer cell and gene therapy company, on September 5, 2026.

The transaction involves purchasing 24,23,675.64 equity shares of common stock, par value US$0.0001 per share. This move is designed to establish a presence in the United States market and access existing customer bases and distribution networks.

Deal Structure and Promoter Interest

The acquisition will be funded through cash consideration in US dollars. The cost is based on the prevailing valuation norms for MedTherapy Biotechnology. The company aims to complete the acquisition by March 31, 2027.

Promoters of Sudarshan Pharma are also participating in the deal:

• Mr. Hemal Mehta (Chairman & Managing Director) will acquire 1.50% of the issued share capital.
• Mr. Sachin Mehta (Joint Managing Director) will acquire an additional 1.50% of the issued share capital.

Both promoters will acquire 3,82,685.63 equity shares each. The disclosure confirms that this transaction does not fall under related-party transactions.

Regulatory Approvals and Due Diligence

The deal requires approval from the Reserve Bank of India under the Foreign Exchange Management Act (FEMA) 1999. Specifically, it seeks clearance under the Foreign Exchange Management (Overseas Investment) Rules, 2022, via the automatic route.

Legal and commercial due diligence must be concluded before the transaction closes. All relevant FEMA regulations will be addressed during this process.

About the Target Entity

MedTherapy Biotechnology Inc. is incorporated in Delaware, USA, with its technology development site in Boston. Founded in 2018 by experts from Harvard and former Novartis executives, it operates as an end-to-end integrated CAR-T Cell CDMO.

The target maintains a commercial-scale GMP manufacturing facility in New Delhi, India. Its mission focuses on making cancer cell and gene therapy treatments affordable and accessible to patients globally.

What the Numbers Show

The combined promoter interest of 3.00% alongside the corporate stake of 9.50% indicates a significant strategic alignment between Sudarshan Pharma’s leadership and the target entity. This structure suggests confidence in the long-term value of entering the US biotechnology sector through MedTherapy’s established infrastructure.