Natural Capsules Limited , a prominent player in the pharmaceutical industry, has made significant announcements regarding leadership changes and developments at its material subsidiary that reflect evolving corporate dynamics.

Rights Issue Cancellation by Material Subsidiary

In a significant development, Natural Biogenex Private Limited, the material subsidiary of Natural Capsules Limited, has decided not to proceed with its previously approved rights issue. The Board of Directors of Natural Biogenex Private Limited made this decision in their meeting held on January 03, 2026, citing non-subscription by the major shareholder as the primary reason.

The cancelled rights issue details were as follows:

This decision was communicated to the stock exchanges under Regulation 30(9) of SEBI (LODR) Regulations, 2015, with reference to the company's earlier intimation dated September 30, 2025, when the rights issue was initially approved.

Chief Operating Officer Retirement

Natural Capsules Limited has also disclosed the upcoming retirement of Mr. MVN Kutty, the company's Chief Operating Officer (COO). The retirement is due to superannuation and will be effective from the close of business hours on September 30, 2025.

Regulatory Compliance and Communication

Both announcements were made by Pranjal Deshmukh, the Company Secretary & Compliance Officer of Natural Capsules Limited, ensuring full compliance with regulatory requirements. The cancellation of the rights issue represents a notable shift from the subsidiary's earlier capital raising plans, potentially impacting the group's expansion and investment strategies.

The decision not to proceed with the rights issue due to lack of support from the major shareholder highlights the importance of stakeholder alignment in corporate financing decisions. This development may require Natural Biogenex Private Limited to explore alternative funding mechanisms for its growth initiatives.

Natural Capsules , a leading manufacturer of hard capsule shells, held its 32nd Annual General Meeting (AGM) on August 4, 2025, where shareholders approved several significant resolutions shaping the company's governance and future direction.

Board Continuity and Reappointments

Shareholders gave their nod to the continuation of Mr. Tekkar Yashwanth Prabhu as a Non-Executive Independent Director beyond the age of 75 years until the expiry of his current term. Mr. Prabhu, with over four decades of banking experience, brings valuable expertise to the board, having served in senior positions at Canara Bank, Union Bank of India, and Oriental Bank of Commerce.

The meeting also saw the reappointment of Mr. Sathyanarayana Mundra as Whole Time Director for a three-year term, effective September 20, 2025, along with a revision in his remuneration. Mr. Mundra, responsible for quality control of products, will continue to play a crucial role in the company's operations.

New Appointments

In a move to strengthen its corporate governance, the company appointed Mr. R. Parthasarathy as Secretarial Auditor for a period of five consecutive years, from the financial year 2025-26 to 2029-30. Mr. Parthasarathy, a practicing Company Secretary with 38 years of experience in company law matters, brings extensive expertise to this role.

Other Key Resolutions

The AGM also addressed several other important matters:

1. Adoption of audited financial statements for the year ended March 31, 2025.
2. Reappointment of Mr. Sushil Kumar Mundra as a director, who was retiring by rotation.
3. Approval of related party transactions with the subsidiary, Natural Biogenex Private Limited.
4. Approval for the payment of commission to Non-Executive Directors.

Voting Results

All resolutions put forth at the AGM were passed with overwhelming majority. The e-voting results showed 100% votes in favor for most resolutions, indicating strong shareholder support for the company's decisions.

Management's Perspective

While specific comments from the management were not provided, the approval of these resolutions suggests a focus on maintaining experienced leadership, enhancing corporate governance, and preparing for future growth.

Natural Capsules, known for pioneering the manufacturing of vegetarian capsules in India, continues to evolve its governance structure to support its position as a key player in the pharmaceutical industry. These board-level changes and appointments are likely aimed at steering the company through its next phase of growth and expansion.