Gland Pharma Ltd

Gland Pharma Limited — Closure of Trading Window from Thursday, October 01, 2026 till 48 hours after the declaration of the Unaudited Financial Results of the Company for the quarter and half year ending on September 30, 2026.

Disclosure details

• Target Company: Gland Pharma Limited.
• Disclosing Party: Mirae Asset Mutual Fund (not promoter group).
• Transaction Type: Sale of voting-rights shares (disposal) via Open Market.
• Pre-Transaction Holding: 4,930,033 shares (2.99%).
• Transaction Details: Sold 57,842 voting rights (0.04%), via Open Market.
• Post-Transaction Holding: 4,872,191 shares (2.95%).
• Date of Transaction: 28/09/2026.
• Share Capital Context: Before/after equity capital 165,010,854; diluted capital after sale 166,808,368.

Acquisition details

• Target: Gland Pharma USA Inc., US-based marketing and distribution of pharmaceutical products.
• Size: share capital USD 500,000; FY26 turnover Nil.
• Related party: Yes; arm's-length cash transaction with a wholly owned subsidiary.
• Industry: Pharmaceutical.
• Rationale: convert Gland US to direct subsidiary, streamline structure.
• Regulatory: Not Applicable.
• Timeline: completion targeted by October 31, 2026.
• Consideration: Cash.
• Price: USD 501,208.
• Shareholding: 100% equity stake acquired.
• Background: Gland US is a US-based pharmaceutical distributor, incorporated 7 Mar 2022.
• Past turnover: FY26 Nil; FY25 USD 87,342; FY24 USD 483,808.
• Presence: United States.

ESOP allotment and wind-up

• ESOP exercise allotment: 42,393 shares to 35 employees (ESOP 2025) and 1,800 shares to 1 employee (ESOP 2019).
• Closure of ESOP 2019 with immediate effect; all eligible options exercised or lapsed; no further options remain.
• Share capital increased to Rs 165,010,854 comprising 165,010,854 equity shares of Re 1 each.
• Date of allotment: September 13, 2026.
• Total issued shares after issue: 16,50,10,854; total share capital Rs 16,50,10,854.
• ISIN INE068V01023; listed on BSE/NSE; Regulation 10(c) details filed.
• Exercise price per share for ESOP 2019: Rs 542.
• ESOP 2025 exercise prices: Rs 773.30, Rs 937.20, and Rs 1.
• Premium per share: Rs 541 for ESOP 2019; Rs 772.30, Rs 936.20, Nil for ESOP 2025.

ESOP grant details

• Approval date: Sep 13, 2026.
• Total options granted: 5,90,249 to 124 employees.
• Pricing: 389,564 options at INR 1,461.15 and 200,685 options at INR 1.
• Exercise window: up to 2 years from vesting.
• Vesting: 34% after year one; 33% after year two; 33% after year three.
• Vesting starts Sep 13, 2027, with annual vesting through Sep 2029.
• Administration: ESOP Compensation Committee to administer.
• Regulatory compliance: compliant with SEBI SBEB Regulations 2021.

Regulatory fines and director appointment

• Fines of ₹70,000 each levied by NSE and BSE for a 34-day regulatory breach.
• Total fines ₹140,000 (excl. GST) paid in full.
• Independent Director William Keller appointed June 15, 2026; shareholders approved July 18, 2026 via postal ballot.
• Special Resolution approved; company to strengthen internal compliance to prevent recurrence.

Meeting Details

• September 16, 2026 — East Bridge Capital — Type: not specified
• September 17, 2026 — IIFL Capital — One-on-One meeting
• September 17, 2026 — Antique Broking — Type: not specified
• September 25, 2026 — Nomura-arranged Group Meeting