Venmax Drugs and Pharmaceuticals Limited has announced significant modifications to its draft scheme of amalgamation with Hatri Pharma Private Limited, following a board meeting conducted on March 27, 2026. The amendments specifically address changes in the share capital structure of the transferee company.

Board Meeting Outcomes

The board of directors convened on Friday, March 27, 2026, from 2.30 p.m. to 3.30 p.m., to consider and approve amendments to Para 2.2 of the Share Capital Clause in the draft scheme of amalgamation. The meeting was held in continuation of the earlier submission of the draft scheme between Hatri Pharma Private Limited (transferor company) and Venmax Drugs and Pharmaceuticals Limited (transferee company), originally submitted on November 12, 2025.

Share Capital Structure Changes

The key modifications approved by the board involve significant changes to the issued, subscribed and paid-up share capital of the company:

Warrant Conversion Details

The company had originally issued 1.00 crore convertible equity share warrants at a price of Rs. 20 per warrant. Out of these, the company has successfully allotted 63.44 lakh equity shares to warrant holders pursuant to conversion of warrants. The remaining 36.81 lakh equity share warrants are still pending conversion.

The exercise of the remaining transferee company warrants by holders would result in further increases to the issued, subscribed and paid-up equity share capital of the company. This conversion mechanism provides flexibility for future capital expansion as warrant holders exercise their conversion rights.

Regulatory Compliance

The disclosure has been made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015. The modified draft scheme of amalgamation incorporating the approved changes in share capital structure has been duly attached with the regulatory filing.

The company's scrip code on BSE is 531015, and the registered office is located at Sy. No. 1-1-5, Brig Sayeed Road, Hanumanji Colony, Bowenpally, Picket, Hyderabad - 500009.

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.