Pharmaids Pharmaceuticals Limited has successfully concluded the sale of three land parcels in Karnataka to its Chairman, Dr. S. N. Vinaya Babu, for Rs 19.56 crores. The transaction, which involves approximately 13,975 square meters of land in the Hirehalli Industrial Area of Tumkur District, marks a significant development for the company.

Transaction Details

The sale, completed on September 6, 2025, involves three distinct land parcels:

1. 4,040 sq. meters at Plot No. 47-P2, Hirehalli Industrial Area
2. 5,901 sq. meters at Plot No. 47, Sy. No. 53, Manchakalkuppe Village
3. 4,034 sq. meters at Plot No. 46, Hirehalli Industrial Area

Corporate Governance and Approvals

The transaction, classified as a related party transaction, was conducted at arm's length and received necessary approvals:

• Shareholder approval via postal ballot on March 24, 2025
• Board of Directors' approval on February 12, 2025
• Sale deed execution on August 29, 2025

Impact on Business Operations

Pharmaids Pharmaceuticals has stated that the sale will not affect its business operations, as no activities were being carried out on these land parcels.

Buyer Details and Open Offer

Dr. S. N. Vinaya Babu, the buyer, currently serves as the Chairman and Non-Executive & Non-Independent Director of Pharmaids Pharmaceuticals. Following this transaction:

• Dr. Babu has made an open offer to public shareholders
• Upon completion of the open offer, he will be reclassified as part of the Promoter/Promoter Group

Regulatory Compliance

The company has complied with the necessary regulations, including:

• Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements
• Section 180(1)(a) of the Companies Act, 2013
• Regulation 37A of Listing Regulations

Prasanna Subramanya Bhat, Company Secretary & Compliance Officer of Pharmaids Pharmaceuticals, confirmed the transaction details in a filing to the BSE Limited.

This land sale represents a strategic move for Pharmaids Pharmaceuticals, potentially streamlining its asset portfolio while providing additional capital for future endeavors.

Pharmaids Pharmaceuticals Limited is the target of an open offer launched by Shankarappa Nagaraja Vinaya Babu and Tumkur Trade Center Private Limited, according to a reminder advertisement published on August 7, 2025.

Key Details of the Open Offer

The acquirers have published reminder advertisements for this open offer in multiple newspapers on August 7, 2025, including English, Hindi, Marathi, and Kannada editions.

Compliance and Management

The open offer is being conducted in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Saffron Capital Advisors Private Limited is serving as the manager to the offer.

Company Information

Pharmaids Pharmaceuticals Limited (CIN: L52520KA1989PLC173979) is headquartered at Unit #201, Brigade Rubix, 20/14, HMT Factory Road, Peenya Plantation, Bangalore 560013, India. The company's shares are listed on the BSE with the scrip code 524572.

Significance for Shareholders

This open offer provides an opportunity for the public shareholders of Pharmaids Pharmaceuticals to tender their shares at Rs. 62.15 per share. Shareholders are advised to carefully review the offer documents and seek independent financial advice before making a decision.

The reminder advertisement serves as a notification to shareholders who may have missed the initial announcement. It reiterates the terms of the offer and ensures wider dissemination of the information in compliance with regulatory requirements.

Investors and market participants will be watching closely to see the response to this open offer and its potential impact on the ownership structure of Pharmaids Pharmaceuticals Limited.