Pharmaids Pharmaceuticals Limited has announced a key leadership change with the resignation of Dr. Sidde Gowda from his position as Vice President-Operations. The resignation was submitted on December 10, 2025, and takes effect from the close of business hours on the same date.

Resignation Details

The company has filed the mandatory disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure provides comprehensive information about the senior management personnel change.

Reason for Resignation

According to the official disclosure, Dr. Sidde Gowda has tendered his resignation due to personal reasons and pre-occupation with other commitments. In his resignation letter addressed to the Board of Directors, Dr. Gowda confirmed that there are no other material reasons for his resignation beyond the stated personal commitments.

Regulatory Compliance

Pharmaids Pharmaceuticals Limited has ensured full compliance with regulatory requirements by filing the necessary disclosures with BSE Limited. The company's filing includes all details required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated November 11, 2024.

Company Information

Pharmaids Pharmaceuticals Limited operates from its registered office at Unit 201, Brigade Rubix, 20/14, HMT Factory Road, Peenya Plantation, Bangalore 560013. The company secretary and compliance officer, Prasanna Subramanya Bhat, signed the regulatory disclosure documents.

Dr. Gowda expressed his sincere gratitude to the Board of Directors and extended his best wishes for the company's future in his resignation letter. The departure represents a change in the company's senior management structure as it continues its operations in the pharmaceutical sector.

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.