Gujarat Kidney and Superspeciality Limited is seeking shareholder approval to reallocate ₹25.14 crore of its Initial Public Offering (IPO) proceeds, moving away from a previously proposed greenfield project in Bharuch to focus on expanding existing infrastructure and acquiring a stake in a Dubai-based entity. The company has initiated a postal ballot process, with remote e-voting open from July 17, 2026, to August 22, 2026, to pass a special resolution for this variation in the utilization of funds.

The Board of Directors, in a resolution dated July 9, 2026, recommended the reallocation citing the need for faster and more efficient capital deployment. The company stated that incorporating a new subsidiary and building a new facility would involve a longer gestation period compared to strengthening its current operational entities. Consequently, the Board proposes to utilize ₹17.92 crore to develop new infrastructure, add modern equipment, and enhance facilities within the parent company and its subsidiaries.

A portion of the funds, specifically ₹7.22 crore, is proposed to be allocated for the acquisition of a 51% stake in Blue Tree Clinics LLC, located in Dubai, UAE. The Board has approved this acquisition for a total consideration of ₹19.84 crore, to be paid in two tranches. The first tranche of ₹10 crore is to be paid from available funds under the object 'Funding inorganic growth through unidentified acquisitions and general corporate purposes', while the second tranche will utilize the reallocated amount.

The company clarified that the proposed variation does not involve any additional fund raising and is not expected to have an adverse impact on its cash flows. It believes the deployment of funds towards these new objects will enable efficient utilization of IPO proceeds and contribute positively to operational efficiency and profitability. However, the company has flagged risks associated with the overseas acquisition, including potential regulatory hurdles and challenges in integrating operations.

The postal ballot notice was dispatched to shareholders electronically on July 22, 2026. The cut-off date for determining shareholder eligibility for e-voting was July 17, 2026. M/s. SPANJ & Associates has been appointed as the scrutinizer to ensure the voting process is conducted fairly. The results of the postal ballot are expected to be declared on or before August 25, 2026.

Gujarat Kidney and Super Speciality Ltd appointed Mr Paresh Dhoti as an Additional Non-Executive Non-Independent Director on July 9, 2026. The appointment was necessitated by a technical glitch that prevented the completion of his registration as an Independent Director with the Indian Institute of Corporate Affairs (IICA). The company stated that the registration process has since been completed successfully, and the Board will consider appointing him as a Non-Executive Independent Director in a subsequent meeting.

The clarification was submitted to BSE Limited and National Stock Exchange of India Limited regarding the outcome of the Board Meeting held on July 9, 2026. The disclosure was made under Regulation 30(6) read with Para A (7) of Part-A of Schedule III of the SEBI Listing Regulations and SEBI Circular No. SEBI/HO/CFD/CFD PoD1/P/CIR/2023/123 dated July 13, 2023.

Mr Paresh Dhoti obtained a Bachelor of Dentistry in 2006 from Government Medical College, Ahmedabad. He has been practicing independently as a Dentist in Vadodara for the past 18 years. The company confirmed that Mr Dhoti is not related to any Director of the company.

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