Asston Pharmaceuticals Ltd

EGM Resolutions

• Special resolution to issue equity shares on a preferential basis.
• Terms such as price, quantity, and allottees were not disclosed in the filing.
• Voting conducted remotely and at EGM; results due within 2 working days; Scrutinizer appointed.

Dematerialisation status

• Certificate under Regulation 74(5) for quarter ended 30 June 2026 enclosed from RTA.
• No processing/status details on dematerialisation/rematerialisation provided in this chunk.

Purpose and offer

• Special resolution to issue 24,10,431 equity shares on a preferential basis.
• Issue price ₹115 per share; ₹10 par; ₹105 premium; total ₹27.72 crore.
• Proposed allottees are non-promoter/public listed in the notice.

Key terms and governance

• Dematerialized allotment; shares rank pari passu with existing shares.
• Lock-in as per SEBI ICDR Regulation 167; board may adjust terms.
• Board authorized to finalize and vary terms within applicable laws.
• Pricing floor ₹115; supported by valuation dated 02 July 2026.

Promoter/director participation

• Yashvardhan Nitin Tupe, Non-Executive Director, intends to subscribe.
• Other promoters/directors do not intend to subscribe.

Voting outcome

• Voting outcome not disclosed in the notice.

Shareholding impact

• Post-issue promoter holding at 39.48%; pre-issue 50.66%.
• Public holding rises to 60.52%; no change in effective control.

Fund utilization and objects

• Working capital: ₹19.22 crore; within 1 year; bank deposits.
• Repayment of borrowings: ₹2.00 crore; within 1 year; bank deposits.
• Capital expenditure: ₹2.00 crore for machinery; within 1 year; bank deposits.
• General corporate purposes and issue-related expenses: ₹4.50 crore; within 1 year.

Valuation and disclosures

• Valuation report dated 02 July 2026 by Amninder Kaur supports ₹115 price.
• Price determined per SEBI ICDR Regulations; floor price disclosed.

Issue overview

• Issue up to 24,10,431 equity shares to non-promoters at ₹115 per share.
• Face value ₹10; premium ₹105 per share; cash consideration.
• Aggregate up to ₹27.72 crore; subject to shareholder approvals.
• Non-promoter category allotment; proceeds on a cash basis.
• EGM convened for 31 July 2026.

EGM details

• EGM scheduled for 31 July 2026 at 12:30 PM via VC/OAVM.
• Shareholder approval and regulatory clearances are required.

Allottees and post-issue holding

• Annexure A lists proposed allottees with post-issue holdings.
• Post-issue holdings include a 12.06% stake for Vijay Rathee.
• Total issue is 24,10,431 shares to non-promoters.

Promoter/director participation

• Promoters and directors are not indicated as participants.

Use of funds and governance

• Use of proceeds not specified in filing.
• Proceeds and capital raise expected to alter shareholding mix per Annexure A.

Board/management impact

• No immediate board or management changes announced.

Voting outcome

• Voting outcome not available; approval pending at the forthcoming EGM.

Appointment of Chief Financial Officer

• Mr. Sumit Pawar appointed CFO effective 30th March 2026
• Commerce graduate with 3+ years in finance and accounting management
• No relationship with other directors

Appointment of Additional Non-Executive Director

• Mr. Yashvardhan Tupe appointed Additional Non-Executive Director effective 30th March 2026
• Holds B.E. Mechanical Engineering and M.Sc. in Management and International Business
• Expected to contribute to growth, governance, and strategy
• No relationship with other directors

Appointment of Additional Independent Director

• Mr. Sandip Sharma appointed Additional Non-Executive Independent Director effective 30th March 2026
• Qualified Company Secretary with 2+ years experience in corporate law and governance
• Cleared Independent Director Examination by IICA
• No relationship with other directors

Meeting Details

• Board meeting scheduled for 30th March 2026 at 3:00 PM

Key Agenda Items

• Consider appointment of Mr. Sumit Pawar as Chief Financial Officer
• Consider appointment of Mr. Yashvardhan Tupe as Additional Non-Executive Director
• Consider appointment of Mr. Sandip Sharma as Additional Non-Executive Independent Director
• Note circular resolution for appointment of statutory auditor
• Consider and approve date and notice of Extraordinary General Meeting