Nectar Lifesciences Limited has successfully completed its postal ballot process, with shareholders approving all three resolutions proposed by the company's board of directors. The remote e-voting period concluded on February 28, 2026, marking a significant milestone in the company's corporate governance initiatives.

Postal Ballot Process Overview

The company initiated the postal ballot process on January 28, 2026, seeking shareholder approval for three critical resolutions. The remote e-voting commenced on January 30, 2026, at 9:00 A.M. IST and concluded on February 28, 2026, at 5:00 P.M. IST. Mr. Prince Chadha, a practicing Company Secretary, served as the appointed Scrutinizer for conducting the postal ballot process.

Resolutions and Voting Results

The postal ballot covered three key resolutions, all of which received overwhelming shareholder support:

Resolution 1: Director Appointment

The ordinary resolution for appointing Mr. Sushil Kapoor as Director liable to retire by rotation achieved remarkable success:

Resolution 2: Wholetime Director Appointment

The special resolution for Mr. Sushil Kapoor's appointment as Wholetime Director (Finance) for three years also secured strong approval:

Resolution 3: Memorandum Amendment

The special resolution to adopt a new memorandum of association with amended object clauses received substantial support:

Shareholder Participation

The postal ballot demonstrated strong shareholder engagement, with the company's total shareholding of 194260970 shares represented across different categories. The promoter and promoter group maintained complete participation with 100% voting on their holdings of 100706448 shares. Public institutional investors held 8160031 shares, while public non-institutional shareholders controlled 85394491 shares.

Corporate Governance Compliance

The postal ballot process adhered to all regulatory requirements under the Companies Act, 2013, and SEBI LODR Regulations. The company published advertisements in Business Standard (English) and Desh Sewak (Punjabi) on January 29, 2026, informing shareholders about the postal ballot notice and remote e-voting procedures. The process was conducted entirely through electronic means, with no physical ballot forms dispatched to members.

Expanded Business Scope

The approved memorandum amendment significantly expands Nectar Lifesciences' business scope beyond its core pharmaceutical operations. The new object clauses encompass construction and real estate development, electrical engineering, mechanical engineering, chemical manufacturing, entertainment industry operations, and various other business verticals. This diversification strategy positions the company for broader market opportunities while maintaining its pharmaceutical focus.

The successful completion of the postal ballot process reflects strong shareholder confidence in the company's strategic direction and leadership appointments. All resolutions were deemed passed with the requisite majority as confirmed by the Scrutinizer's report.

Source: None/Company/INE023H01027/e0ad159d-a06f-43a9-bdbd-afe7b9732dc6.pdf

Nectar Lifesciences Limited has reported a significant increase in promoter shareholding following the completion of its share buyback program. The company filed a disclosure under SEBI Takeover Regulations on January 27, 2026, detailing the changes in shareholding structure.

Promoter Shareholding Changes

The promoter and promoter group's collective shareholding increased substantially due to the share buyback completion. While the absolute number of shares held by promoters remained unchanged, their percentage stake in the company rose significantly.

Share Buyback Details

The change in shareholding percentage resulted from the company's share buyback program rather than any fresh acquisition by promoters. The buyback program commenced on December 31, 2025, and concluded on January 06, 2026. The company subsequently extinguished 30,00,000 shares on January 20, 2026.

Regulatory Compliance

The disclosure was made under Regulation 10(6) of SEBI Substantial Acquisition of Shares and Takeovers Regulations, 2011. The transaction qualified for exemption under Regulation 10(4)(c), which meant no open offer was required despite the substantial increase in promoter shareholding.

Key regulatory aspects include:

• No prior intimation required under Regulation 10(5)
• Exemption from open offer provisions
• Compliance with post-transaction disclosure requirements
• Filing with both BSE Limited and National Stock Exchange of India Limited

Impact on Share Capital Structure

The buyback resulted in a reduction of the company's total share capital from 2,24,26,097 shares to 1,94,26,097 shares. The public shareholding decreased correspondingly from 1,23,55,452 shares to 93,55,452 shares, representing a decline from 55.09% to 48.16% of the total share capital.

The promoters now hold majority control of Nectar Lifesciences Limited with their combined 51.84% stake, marking a significant shift in the company's ownership structure following the successful completion of the share buyback program.