Orchasp Limited has taken the next crucial step in its preferential allotment process, with the board of directors formally approving the implementation of the ₹8.60 crore share issuance. Following the in-principle approvals received from both major stock exchanges in December, the company's board meeting held on December 18 has now authorized the actual allotment and necessary regulatory applications.

Board Meeting Outcomes and Approvals

The board meeting, which commenced at 11:00 AM and concluded at 1:00 PM on December 18, resulted in key decisions regarding the preferential allotment implementation:

The board has specifically approved the issuance to Mrs. P. Rajeswari, who is the legal heir of Mr. P.C. Pantulu, the former chairman and CEO of the company. This allotment will facilitate the conversion of his outstanding loan amounts into equity.

Regulatory Framework and Exchange Approvals

The preferential allotment has already secured in-principle approval from both BSE Limited and NSE of India Limited under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. However, the exchanges have emphasized that this approval should not be construed as automatic listing approval for the securities.

Management Authorization and Next Steps

The board has authorized Mr. P. Chandra Sekhar, Managing Director and CFO, to handle all necessary applications and compliance requirements. His responsibilities include making applications with BSE, NSE, ROC, CDSL, and NSDL, along with obtaining required permissions under applicable laws for issue, allotment, listing, and trading permissions.

The company must ensure strict compliance with internal controls to monitor trades executed by proposed allottees before the allotment of securities. Additionally, specific undertakings must be obtained from allottees confirming they will not engage in intra-day trading in the company's scrip until the allotment date.

Post-Allotment Compliance Timeline

Upon completion of the allotment, Orchasp will be required to make a listing application without delay, along with applicable fees, as per Regulation 14 of the LODR Regulations. The company must submit this application within twenty days from the date of allotment, as specified in Schedule XIX Para(2) of ICDR Regulations and SEBI circular dated June 21. Non-compliance with these timeline requirements will attract penalties as mentioned in the relevant SEBI circular.

Orchasp Limited has announced the incorporation of a wholly-owned subsidiary in the United States as part of its strategic expansion into the healthcare technology sector. The new subsidiary, named Orchasp Inc, was incorporated on December 9, 2025, following board approval granted on November 11, 2025.

Strategic Decision and Board Deliberations

The company's Board of Directors initially discussed the revival of an existing dormant subsidiary, Cybermate Infotek Limited Inc, during their meeting on August 11, 2025. However, after evaluating the estimated costs associated with compliance requirements, revival procedures, and name changes, the board concluded that incorporating a new subsidiary would be more cost-effective than reviving the existing entity.

Subsidiary Details and Capitalization

The newly incorporated subsidiary has been established with specific operational objectives and financial structure:

Business Objectives and Platform Focus

The primary purpose of Orchasp Inc centers on expanding the company's healthcare technology offerings in the US market. The subsidiary will focus on two key operational areas:

• Marketing and promotion of the healthcare platform indusayush ( www.indusayush.in )
• Enabling hosting and distribution of mobile applications on Android and iOS platforms

This strategic move positions Orchasp Limited to leverage the US market opportunities in the healthcare technology sector while establishing a dedicated operational base for its digital health initiatives.

Regulatory Compliance

The incorporation has been disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed both BSE Limited and The National Stock Exchange of India Limited about this corporate development, ensuring transparency with stakeholders and regulatory authorities.