Shilpa Medicare Limited , a prominent pharmaceutical company, has announced that its promoters have entered into an Inter-se Agreement on October 16, 2025. This agreement establishes a framework for the transfer and sale of securities among the promoter group members.

Key Details of the Agreement

The Inter-se Agreement, which does not involve Shilpa Medicare Limited as a party, outlines several important provisions:

1. Transfer Restrictions: The agreement sets forth restrictions on the transfer and sale of company securities within the promoter group.
2. Right of First Refusal: It grants a Right of First Refusal to the existing promoter group members.
3. Drag-Along Rights: The Bhutada Group has been given Drag-Along Rights as part of the agreement.
4. Personal Guarantees: The agreement addresses liabilities related to personal guarantees for loans availed by the company and its subsidiaries.

Promoter Group Composition and Shareholding

The promoter group collectively holds a significant stake in Shilpa Medicare Limited:

The agreement involves members from both the Bhutada and Innani families, who form the core of the promoter group.

Impact on Company Control

It's important to note that this agreement does not alter the overall promoter group shareholding or control of Shilpa Medicare Limited. The company has clarified that the agreement is primarily to formalize inter-se arrangements among the promoters.

Regulatory Compliance

The company has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. This ensures transparency and keeps shareholders and the market informed about significant developments within the promoter group.

While this agreement signifies a structured approach to managing promoter group interests, it does not directly impact the day-to-day operations or management of Shilpa Medicare Limited. Investors and stakeholders should view this as an internal arrangement among the promoters, aimed at establishing clear protocols for future transactions within the group.

Shilpa Medicare Limited, a prominent pharmaceutical company, has received approval from the National Stock Exchange (NSE) for the reclassification of two promoter group shareholders to the public category. This strategic move involves a significant 4.09% of the company's shareholding structure.

Reclassification Details

The reclassification approval, granted under Regulation 31A of SEBI (LODR) Regulations, 2015, pertains to two key individuals:

1. Suraj Kumar Inani: Holding 39,20,695 shares (4.01% of total shareholding)
2. Priya Inani: Holding 80,696 shares (0.08% of total shareholding)

In total, the reclassification encompasses 40,01,391 shares, representing 4.09% of Shilpa Medicare's shareholding structure.

Approval Process and Timeline

The company had submitted the reclassification application to both the National Stock Exchange of India Limited and BSE Limited on August 13. The NSE approval, detailed in letter No. NSE/LIST/COMP/SHILPAMED/508, was received on September 26.

Implications and Compliance

This reclassification marks a significant change in Shilpa Medicare's shareholding pattern. The company is required to ensure compliance with subsequent relevant disclosures of material events related to this reclassification, as per the applicable provisions of Regulation 31A of SEBI (LODR) Regulations, 2015.

Additional Corporate Update

In a separate announcement, Shilpa Medicare has also informed about the closure of its trading window. The trading window for dealing in the company's securities will remain closed for all designated persons, their immediate relatives, and connected persons from October 1. This closure will continue until 48 hours after the declaration of unaudited financial results for the quarter and half-year ending September 30.

Shilpa Medicare Limited, with its corporate office in Raichur, Karnataka, continues to navigate regulatory requirements while maintaining transparency with its shareholders and the market at large.