Themis Medicare Limited has received a notice from the Income Tax Department regarding outstanding tax demands totaling approximately ₹13.32 crore across multiple assessment years. The pharmaceutical company disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Tax Demand Details

The notice was issued under Section 226(3) of the Income Tax Act, 1961 by the Office of the Assistant Commissioner of Income Tax, Vapi Circle, Vapi. The company received the communication on 25th March, 2026.

The outstanding demands comprise income tax, penalty, interest, and fine components across the three assessment years mentioned.

Company's Response Strategy

Themis Medicare has indicated it is in the process of taking necessary steps to address the matter, including preferring an appeal within the prescribed timelines. The company plans to defend the case before Higher Appellate Forums against the said order.

Management's Position

The pharmaceutical company has expressed confidence in its legal standing, stating it believes it has adequate factual and legal grounds to reasonably substantiate its position in the matter. Management has clarified that the tax demand does not have any adverse impact on the company's financial position and operations.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided detailed information as required under Para A (20) of Part A of Schedule III of the SEBI LODR Regulations, ensuring full transparency with stakeholders regarding this regulatory development.

Themis Medicare Limited's Preferential Issue Committee has formally approved the revised pricing for its convertible equity warrants during a meeting held on March 10, 2026. This follows the company's earlier corrigendum to its postal ballot notice dated February 25, 2026, which addressed observations from the National Stock Exchange of India Limited (NSE).

Committee Approves Key Pricing Decisions

The Preferential Issue Committee, constituted by the Board of Directors, transacted several important matters during its March 10 meeting. The committee adopted a modified pricing certificate issued by Mr. Abhishek Wagh, Proprietor of M/s. Abhishek Wagh & Associates, Practicing Company Secretaries, indicating the minimum issue price of Rs. 102.87 per warrant.

Warrant Issue Structure and Terms

The convertible equity warrants are being issued to Vividhmargi Investments Private Limited on a preferential basis, subject to shareholder approval and clearance from BSE Limited and National Stock Exchange of India Limited. The issue represents up to 4.99% of total shareholding, equivalent to 45,95,795 equity shares.

Regulatory Compliance Framework

The pricing determination follows SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, specifically Regulation 164. The revised warrant issue price of Rs. 102.87 represents the 90-day volume weighted average price (VWAP) of the company's equity shares preceding the relevant date, as determined according to regulatory requirements.

The committee's decisions require approval from shareholders through the ongoing postal ballot process, as well as clearance from both BSE Limited and National Stock Exchange of India Limited. The formal committee approval represents a crucial step in the preferential issue process, providing regulatory certainty for the warrant pricing structure.

Next Steps in Approval Process

With the committee's formal approval secured, the company continues its shareholder consultation process. The corrigendum provides a 48-hour window for shareholders to comment on Resolution No. 4 regarding the warrant issuance. Shareholders who have already voted in the postal ballot can modify their votes by contacting the scrutinizer before e-voting concludes on March 27, 2026 at 05:00 p.m.