Sandu Pharmaceuticals Limited (SPL) has announced a significant change in its shareholding structure following a recent postal ballot. Shareholders have approved the reclassification of Akshath Finvest and Properties Private Limited from the 'Promoter/Promoter Group' category to the 'Public' category.

Key Details of the Reclassification

• Shares Involved: 4,94,182 shares, representing 5.12% of SPL's shareholding
• Voting Results: The resolution passed with 92.02% votes in favor
• Shareholding Impact:
  • Promoter shareholding reduced from 42.90% to 37.79%
  • Public shareholding increased from 57.10% to 62.21%

Voting Process and Results

The postal ballot was conducted through remote e-voting, which took place from October 20 to November 18. The scrutiny of votes was carried out by CS Swapnil Jayant Dixit of Swapnil J. Dixit & Associates, Company Secretaries.

Implications of the Reclassification

The reclassification aligns with regulatory requirements and corporate governance practices. Akshath Finvest and Properties Private Limited confirmed that:

1. They do not hold more than 10% of the paid-up equity share capital of SPL.
2. They do not exercise control over the company's affairs or decision-making process.
3. They are not represented on SPL's board of directors.
4. They are not appointed as Key Managerial Personnel (KMP) of the company.
5. They have no special rights with respect to the company through formal or informal arrangements.

Next Steps

The reclassification is subject to approval from the BSE Limited and other statutory authorities. Upon receiving these approvals, Sandu Pharmaceuticals will update its Statement of Shareholding pattern in the immediate succeeding quarter, in compliance with SEBI regulations.

This move may potentially impact the company's ownership structure and could have implications for future decision-making processes. Investors and stakeholders are advised to monitor further developments related to this corporate action.

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.