Indoco Remedies Limited, a prominent player in the Indian pharmaceutical industry, has announced a significant change in its senior management. Ajay Karajagi, who has been serving as the President of Sales and Marketing, is set to retire from the company.

Key Details of the Retirement

The pharmaceutical company has formally notified both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) about this impending change in senior management, adhering to the regulatory requirements set forth by the Securities and Exchange Board of India (SEBI).

Regulatory Compliance

Indoco Remedies has made this disclosure in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed entities to inform stock exchanges about events or information that are considered material or price sensitive.

Company Overview

Indoco Remedies Limited, with its corporate identity number L85190MH1947PLC005913, is headquartered at Indoco House, 166, C.S.T. Road, Kalina, Santacruz (E), Mumbai 400098, India. The company has been a significant player in the pharmaceutical sector since its inception in 1947.

Financial Context

As of March 2025, Indoco Remedies reported total assets of ₹2,429.90 crore, marking a 13.30% increase from the previous year. The company's shareholders' capital stood at ₹1,022.00 crore, reflecting a slight decrease of 7.92% from the previous year.

This transition in the sales and marketing leadership comes at a time when Indoco Remedies continues to navigate the dynamic pharmaceutical market. The impact of this change on the company's future sales strategies and market positioning will be of interest to industry observers and investors.

In a significant development for Indoco Remedies , the Kare Family Private Trust has completed a substantial share acquisition through off-market transfers dated December 26, 2025. The transaction, executed as part of family succession planning, involved the transfer of shares from Aruna Suresh Kare to the trust without any monetary consideration.

Transaction Details

The regulatory disclosure filed on December 30, 2025, reveals the completion of a major intra-promoter share transfer. The Kare Family Private Trust acquired 55.34 lakh shares representing 6.00% of Indoco Remedies' total share capital from Aruna Suresh Kare through off-market transfer.

Current Shareholding Pattern

Following the completion of this transaction, the Kare Family Private Trust now holds a consolidated position in Indoco Remedies. The trust's shareholding structure demonstrates a strategic consolidation of family assets.

Family Trust Structure

The Kare Family Private Trust was established on November 22, 2024, specifically for smooth succession planning and streamlining family assets and businesses. The trust structure includes Suresh Govind Kare and Aruna Suresh Kare as settlors, while Aditi Milind Panandikar and Madhura Suresh Kare serve as beneficiaries. All parties involved are existing promoters of Indoco Remedies.

Regulatory Compliance

The transaction has been executed in full compliance with SEBI regulations, with appropriate disclosures made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company's equity share capital remains unchanged at ₹18.45 crores, divided into 9.22 crore equity shares of ₹2 each.

Market Impact

This intra-promoter transfer represents a private family arrangement and does not alter the overall promoter shareholding percentage in Indoco Remedies. The transaction strengthens the family's succession planning framework while maintaining the existing control structure of the pharmaceutical company.