Venmax Drugs & Pharmaceuticals Limited has completed the conversion of 28,00,000 warrants into equity shares, marking a significant capital raising milestone for the pharmaceutical company. The Board of Directors approved the allotment on March 23, 2026, following conversion applications from two warrant holders.

Warrant Conversion Details

The conversion involved two non-promoter investors who exercised their rights to convert warrants originally allotted on March 20, 2025. The equity shares were issued at Rs. 20 per share, comprising a face value of Rs. 10 and a premium of Rs. 10 each.

Allottee Breakdown

The warrant conversion was executed by two investors, both classified as non-promoters:

Capital Structure Impact

Following the allotment, the company's capital structure has been strengthened significantly. The paid-up capital increased to Rs. 11.58 crore, representing 1,15,82,930 equity shares of Rs. 10 face value each. The conversion was completed upon receipt of the balance exercise price of Rs. 15 per warrant, representing 75% of the total warrant exercise price.

Outstanding Warrants

The company maintains additional conversion potential with 36,81,000 fully convertible warrants remaining outstanding from the original issuance of 1,00,25,000 warrants. These outstanding warrants provide future capital raising opportunities as and when warrant holders choose to exercise their conversion rights.

Corporate Governance

The Board meeting was conducted efficiently, commencing at 02:45 PM and concluding at 03:15 PM on March 23, 2026. The allotment was executed in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full regulatory compliance. The conversion follows a preferential allotment structure on a private placement basis, adhering to Chapter V of the SEBI ICDR Regulations.

Venmax drugs & pharmaceuticals Limited has announced a significant leadership change with the promotion of Mr. Venkata Rao Sadhanala from Whole Time Director to Managing Director. The Board of Directors approved this designation change during their meeting held on March 11, 2026, following recommendations from the Nomination and Remuneration Committee.

Appointment Details and Terms

The new appointment carries a five-year term, commencing March 11, 2026, and concluding on March 10, 2031. However, the appointment remains subject to approval from the company's shareholders at the next General Meeting.

Leadership Profile and Experience

Mr. Venkata Rao Sadhanala (DIN: 02906370) brings substantial industry expertise to his enhanced role. As a qualified Chartered Accountant and Company Secretary, he possesses over three decades of experience spanning multiple sectors including banking, finance, FMCG, and pharmaceutical industries.

His professional background encompasses:

• Extensive experience in project finance and corporate strategies
• Expertise in mergers and acquisitions
• Senior leadership positions at Vanta Bioscience Ltd and Synergy Castings Ltd
• Deep understanding of pharmaceutical industry operations

Board Meeting Proceedings

The Board Meeting that approved this designation change commenced at 4:30 PM and concluded at 5:30 PM on March 11, 2026. The company has fulfilled its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

Venmax Drugs & Pharmaceuticals Limited has provided comprehensive details as required under SEBI regulations, ensuring full transparency regarding the leadership change. The appointment follows proper corporate governance procedures, including committee recommendations and pending shareholder approval, demonstrating the company's commitment to regulatory compliance and stakeholder engagement.