Key Board Approvals:

1. Rights Issue: The board approved a proposal to raise funds through a Rights Issue of equity shares for an aggregate amount of up to ₹50,00,00,000 (Rupees Fifty Crores Only). The issue will be conducted in accordance with the Companies Act, 2013, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable laws, subject to necessary statutory and regulatory approvals.

2. Increase in Authorised Share Capital: The board approved an increase in the Authorised Share Capital by ₹45,00,00,000 (Rupees Forty-Five Crores Only) through the addition of 4,50,00,000 (Four Crores Fifty Lakhs) equity shares of ₹10/- each. The post-increase authorised capital will be ₹65,00,00,000 (Rupees Sixty-Five Crores Only). This is subject to shareholder approval in an upcoming General Meeting and will require an alteration of the Capital Clause in the company's Memorandum of Association.

Appointments of Intermediaries for Rights Issue:

The board took on record the appointments of the following intermediaries for the Rights Issue:

  • Registrar: M/s Purva Sharegistry (India) Private Limited (SEBI Registration No.: INR000001112), located at 9 Shiv Shakti Industrial Estate, J R Boricha Marg, Lower Parel (E), Mumbai, Maharashtra, 400011.
  • Banker to the Issue: Axis Bank Limited (Sakinaka Branch), Andheri, Mumbai.
  • Monitoring Agency: Acuite Ratings & Research Limited, appointed as per SEBI ICDR Regulations requirements.

Resignation of Directors:

The board approved the resignations of two Independent Directors, effective 9th July 2026:

  • Mr. Dinesh Chander Notiyal (DIN: 10289995) resigned due to pre-occupation in other assignments, stating he could not devote sufficient time to the company's affairs.
  • Ms. Avani Savjibhai Godhaniya (DIN: 10387729) resigned due to time constraints and other engagements.

Both directors provided confirmation that there were no material reasons for resignation other than those stated. According to the provided details, neither director holds any other directorships in listed entities.

Formation of Rights Issue Committee:

The board approved the formation of a Rights Issue Committee with the following members:

  • Chairman: Ms. Chaitali Kalpataru Shah (Executive Director & CFO)
  • Member: Mr. Vivek Mukesh Yadav (Independent Director)
  • Member: Mr. Omprakash Pyarelal Sonar (Independent Director)

Authorizations:

The Board of Directors authorized Ms. Chaitali Kalpataru Shah (Executive Director & CFO) and the Company Secretary to make applications and sign all necessary documents, undertakings, deeds, and agreements on behalf of the company for the Rights Issue proposal.

Trading Window Closure:

In continuation of a prior intimation, the Trading Window for dealing in the company's securities remains closed for all designated persons and their immediate relatives until 48 hours after the declaration of the outcome of this board meeting, pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015.

#Tags: #BacilPharma #RightsIssue #SEBIDisclosure #RegulatoryCompliance #CorporateAction