Pharmaids Pharmaceuticals Limited has announced significant changes to its board structure and leadership, as approved by the company's Board of Directors.

Key Board Changes

Appointment Details

Dr. Yogananda Moolemath has been appointed as an Independent Director for a term of five years, subject to shareholder approval. His tenure is set to commence on January 1, 2026.

In a significant leadership transition, Mr. P.N Vijay has been designated as the new Chairman of the company, effective December 5, 2025. Concurrently, Dr. S.N Vinaya Babu, who previously held the position of Chairman, will step down to assume the role of Vice Chairman.

Committee Restructuring

The company has also completed a restructuring of its committees, though specific details of these changes were not provided in the announcement.

Shareholder Approval Process

Pharmaids Pharmaceuticals will seek shareholder approval through a postal ballot for two key matters:

1. The appointment of Dr. Yogananda Moolemath as an Independent Director
2. Remuneration matters for Non-Executive Directors

The company stated that the Postal Ballot Notice will be sent to shareholders in due course and filed with the stock exchange.

These changes reflect a significant reshaping of Pharmaids Pharmaceuticals' leadership structure, potentially signaling a new direction for the company's governance and strategic focus. Shareholders and market observers will likely be keen to see how these changes impact the company's operations and performance in the coming years.

Pharmaids Pharmaceuticals Limited has undergone a significant change in its shareholding structure following the completion of an open offer. The company has reclassified 12 individuals from the Promoter/Promoter Group category to the Public category, marking a shift in the company's ownership structure.

Open Offer Details

The open offer, conducted by Dr. Shankarappa Nagaraja Vinaya Babu ("Acquirer") and Tumkur Trade Center Private Limited ("PAC"), was completed on September 23, 2025. Following this acquisition, both entities have been classified as the new promoters of Pharmaids Pharmaceuticals Limited.

Reclassification of Promoters

The reclassification involves 12 individuals who collectively held a 5.10% stake in the company. The most notable among these is Sadhanala Venkata Rao, who held the largest individual stake at 4.32%. The complete list of reclassified individuals and their respective shareholdings is as follows:

Compliance with Regulations

In accordance with SEBI regulations, the reclassified promoters have confirmed that:

• They do not hold more than 10% of the total voting rights in the company.
• They do not exercise control over the company's affairs.
• They have no special rights through formal or informal arrangements.
• They will not be represented on the Board of Directors or act as Key Managerial Personnel for three years from the date of reclassification.

Company Assurances

Pharmaids Pharmaceuticals has assured compliance with several key regulatory requirements:

1. The company meets the Minimum Public Shareholding requirements as per SEBI regulations.
2. Its equity shares are not suspended from trading on the stock exchanges.
3. There are no outstanding dues payable to SEBI, stock exchanges, or depositories.

The reclassification took immediate effect upon the completion of the open offer, as stated in the company's filing with the BSE Limited.

This move represents a significant shift in Pharmaids Pharmaceuticals' ownership structure and could potentially impact the company's future strategic decisions. Investors and market watchers will likely keep a close eye on any further developments or changes in the company's direction following this reclassification.