Oxygenta Pharmaceutical Limited has successfully completed the reclassification of four promoter group shareholders to public category following overwhelming shareholder approval through postal ballot. The company received regulatory clearance from BSE Limited and confirmed compliance with all SEBI requirements under Regulation 31A.

Postal Ballot Results and Shareholder Approval

The postal ballot conducted from November 12 to December 11 achieved remarkable shareholder participation with 99.98% approval for the promoter reclassification proposal. Ms. Kumkum Bajaj, Company Secretary and Compliance Officer, declared the results with Ms. Aakanksha Sachin Dubey serving as the appointed Scrutinizer.

Reclassified Shareholders Details

Four promoter group shareholders successfully transitioned to public category status, collectively holding 9.42 lakh shares representing 2.55% of the company's paid-up equity capital. The reclassification received BSE's no-objection certificate dated October 16 under reference number LIST/COMP/KR/514/2025-26.

Regulatory Compliance and Process Timeline

The reclassification process commenced with applications received on August 19 from the four shareholders seeking status change from promoter group to public category. The Board of Directors approved the proposal on August 25 and subsequently obtained BSE's regulatory clearance.

SEBI Regulation 31A Compliance

All reclassified shareholders confirmed compliance with SEBI Regulation 31A requirements, including holding less than 10% equity capital, exercising no control over company affairs, having no special rights through formal arrangements, and maintaining no Board representation. The outgoing promoters also confirmed they are neither willful defaulters nor fugitive economic offenders.

Corporate Governance Impact

Mr. Balasubba Reddy Mamilla, Whole-time Director, confirmed that the company remains compliant with minimum public shareholding requirements under Regulation 38 of SEBI LODR Regulations. The successful reclassification strengthens Oxygenta Pharmaceutical's corporate governance framework while maintaining regulatory compliance across all statutory requirements.

The company has completed all necessary intimations to stock exchanges and regulatory authorities within prescribed timelines, marking the effective transition of the four shareholders from promoter group to public category status.

Oxygenta Pharmaceutical Limited , a subsidiary of Virupaksha Organics Limited, has encountered a significant regulatory setback. The company received a seven-day suspension order for its manufacturing license from the Drugs Control Administration (DCA), Telangana, affecting the production of four crucial drugs.

Suspension Details

The suspension, which began on October 21, 2025, impacts the manufacturing of the following products:

1. Etoricoxib
2. Vildagliptin
3. Lacosamide
4. Telmisartan

This action follows violations of certain rules under the Drugs and Cosmetics Act, 1940 and Rules 1945, as reported by the Drugs Inspector.

Financial Impact

The company estimates a potential revenue loss of Rs. 20.00 lakhs during the suspension period. This figure underscores the immediate financial implications of the regulatory action on Oxygenta Pharmaceutical's operations.

License Details

While the manufacturing license remains valid until April 23, 2028, the permission for the specified products is temporarily suspended.

Regulatory Compliance

The suspension order was issued under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates the disclosure of material information pertaining to actions taken by regulatory authorities against listed entities.

Oxygenta Pharmaceutical Limited has promptly disclosed this development to the BSE Limited, demonstrating its commitment to regulatory compliance and transparency.

Looking Ahead

The seven-day suspension poses a short-term challenge for Oxygenta Pharmaceutical. The company's ability to address the cited violations and swiftly resume production of these key drugs will be crucial in minimizing the impact on its operations and financial performance.

Investors and stakeholders will likely be watching closely to see how the company navigates this regulatory hurdle and implements measures to prevent similar incidents in the future.