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.

Pharmaids Pharmaceuticals Limited has completed the sale of its entire 66.50% partnership stake in Anugraha Chemicals, marking a significant change in its business portfolio. The transaction, which took place on September 18, 2025, saw the stake being acquired by Mrs. Sneha Hadimani for a cash consideration of Rs 6,65,000.

Transaction Details

The divestment was executed through an Exit/Reconstitution Deed, following approvals from shareholders via postal ballot on August 14, 2025, and the Board of Directors on July 4, 2025. As a result of this transaction, Anugraha Chemicals has ceased to be a material subsidiary of Pharmaids Pharmaceuticals.

Financial Impact

The sale represents a significant shift for Pharmaids Pharmaceuticals, considering Anugraha Chemicals' substantial contribution to the company's financials:

Additional Financial Considerations

While the immediate consideration for the partnership stake is Rs 6.65 lakh, it's important to note that this amount is part of a larger financial arrangement. The company clarified that the total value of the transaction, previously disclosed as Rs 10.50 crore, includes:

• Capital contributions made in multiple tranches
• Loans extended to Anugraha Chemicals amounting to Rs 3,06,75,000 with accrued interest
• Sharing of accumulated losses as a partner
• Rs 26,34,712 towards settlement of employee-related dues

These additional amounts for loans, interest adjustments, and other dues are expected to be received separately.

Termination of Investment Agreement

Concurrent with the stake sale, Pharmaids Pharmaceuticals has also executed a Termination Agreement to end the Investment Agreement dated January 25, 2023. This termination effectively concludes all agreements, arrangements, and contracts between the parties involved.

Regulatory Compliance

The transaction has been conducted in compliance with regulatory requirements. It does not fall under related party transactions, and the buyer is not affiliated with the promoter group or group companies of Pharmaids Pharmaceuticals.

Conclusion

This divestment represents a strategic move for Pharmaids Pharmaceuticals, potentially allowing the company to realign its focus and resources. Shareholders and market observers will likely be keen to see how this transaction impacts the company's future financial performance and strategic direction.