Shilpa Medicare Limited , a prominent player in the Indian pharmaceutical sector, has announced a strategic move in its investment portfolio. The company has entered into an agreement to sell a substantial portion of its stake in Sravathi Advance Process Technologies Private Limited (Sravathi), a joint venture specializing in advanced differentiated process technologies and research and development.

Key Details of the Transaction

Post-Transaction Shareholding Structure

The divestment will result in a significant reshuffling of Sravathi's ownership structure. The new shareholding pattern after the transaction is expected to be as follows:

Strategic Implications

This move appears to be part of Shilpa Medicare's strategy to bring in strategic and financial partners to strengthen Sravathi's business operations. The introduction of new stakeholders could potentially infuse fresh perspectives and resources into Sravathi's operations.

Governance Changes

As part of the agreement, both Ash Ingredients Inc. and Varcatalyst LLP will gain representation on Sravathi's board of directors. Each company will have the right to appoint one director, potentially bringing new expertise and strategic direction to the joint venture.

Regulatory Compliance

Shilpa Medicare has informed the stock exchanges about this transaction, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has clarified that this transaction does not fall under related party transactions and that the parties involved are not related to the promoter or promoter group.

Closing Remarks

The transaction is subject to customary closing conditions and is expected to supersede the previous Joint Venture agreement between Shilpa, Technocrats, and Sravathi dated June 7, 2019. This strategic move by Shilpa Medicare could have implications for its future growth trajectory and its position in the advanced process technologies sector.

Shilpa Medicare Limited , a prominent pharmaceutical company, has announced that its promoters have entered into an Inter-se Agreement on October 16, 2025. This agreement establishes a framework for the transfer and sale of securities among the promoter group members.

Key Details of the Agreement

The Inter-se Agreement, which does not involve Shilpa Medicare Limited as a party, outlines several important provisions:

1. Transfer Restrictions: The agreement sets forth restrictions on the transfer and sale of company securities within the promoter group.
2. Right of First Refusal: It grants a Right of First Refusal to the existing promoter group members.
3. Drag-Along Rights: The Bhutada Group has been given Drag-Along Rights as part of the agreement.
4. Personal Guarantees: The agreement addresses liabilities related to personal guarantees for loans availed by the company and its subsidiaries.

Promoter Group Composition and Shareholding

The promoter group collectively holds a significant stake in Shilpa Medicare Limited:

The agreement involves members from both the Bhutada and Innani families, who form the core of the promoter group.

Impact on Company Control

It's important to note that this agreement does not alter the overall promoter group shareholding or control of Shilpa Medicare Limited. The company has clarified that the agreement is primarily to formalize inter-se arrangements among the promoters.

Regulatory Compliance

The company has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. This ensures transparency and keeps shareholders and the market informed about significant developments within the promoter group.

While this agreement signifies a structured approach to managing promoter group interests, it does not directly impact the day-to-day operations or management of Shilpa Medicare Limited. Investors and stakeholders should view this as an internal arrangement among the promoters, aimed at establishing clear protocols for future transactions within the group.