Sandu Pharmaceuticals Limited , a pharmaceutical company based in Goa, has initiated a process to reclassify one of its promoter entities to the public category. The company has issued a postal ballot notice seeking shareholder approval for this significant corporate action.

Key Details of the Reclassification

Regulatory Compliance and Approvals

1. BSE Approval: The Bombay Stock Exchange (BSE) has already granted its approval for the reclassification, subject to shareholder consent.
2. Shareholder Voting: The company has scheduled e-voting for shareholders from October 20, 2025, to November 18, 2025.
3. Results Declaration: The outcome of the voting is expected to be announced by November 20, 2025.

Conditions for Reclassification

Akshath Finvest and Properties Private Limited has confirmed that it meets the following criteria for reclassification:

• Does not hold more than 10% of the company's paid-up equity share capital
• Does not exercise control over the company's affairs
• Has no board representation or key management positions
• Possesses no special rights through formal or informal arrangements

Voting Process

• E-voting Platform: National Securities Depository Limited (NSDL)
• Scrutinizer: CS Swapnil Dixit and Associates have been appointed to oversee the voting process

Implications

This reclassification, if approved, could potentially alter the company's shareholding structure and may impact future corporate decisions. Shareholders are advised to carefully consider the proposal before casting their votes.

The move aligns with regulatory requirements under SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, demonstrating Sandu Pharmaceuticals' commitment to maintaining transparency in its ownership structure.

Investors and stakeholders should monitor the outcome of this postal ballot, as it may influence the company's governance and strategic direction in the future.

Sandu Pharmaceuticals Limited has taken a significant step towards restructuring its shareholder categories. The company's Board of Directors, in a meeting held on October 14, 2025, approved a postal ballot notice to seek shareholder approval for a key reclassification.

Reclassification Proposal

The board has proposed to reclassify M/s Akshath Finvest and Properties Private Limited from the 'Promoter/Promoter Group' category to the 'Public' category. This move, if approved by shareholders, could potentially alter the ownership structure of the company.

Postal Ballot Details

Key details of the postal ballot process are as follows:

Process and Compliance

The company has emphasized its commitment to regulatory compliance in this process:

1. The postal ballot notice will be sent electronically to members whose email addresses are registered with the company or depositories.
2. The cut-off date of October 15, 2025, has been set to determine member eligibility for electronic voting.
3. The process adheres to Section 110 of the Companies Act 2013 and relevant SEBI regulations.

Implications

This reclassification, if approved, could have significant implications for Sandu Pharmaceuticals' shareholding pattern and potentially its governance structure. Shareholders will play a crucial role in this decision through their participation in the e-voting process.

Investors and stakeholders of Sandu Pharmaceuticals Limited should closely monitor this development and its potential impact on the company's future direction.