Postal Ballot results and Scrutinizers Report
JUBLPHARMA · price
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Awaiting price reaction for this filing.
Jubilant Pharmova Limited announced that shareholders have approved the sale and transfer of its Active Pharmaceutical Ingredients (API) business to Jubilant Biosys Limited (JBL), a wholly-owned subsidiary, on a slump sale basis. The special resolution was passed with overwhelming support, with 99.997% of votes cast in favor (12,45,52,968 shares) and only 4,230 shares voting against. Out of 1,01,083 eligible shareholders, 646 participated in the e-voting, representing 78.2% of total shares. Promoters (100%), public institutions (100%), and public non-institutions (99.96%) all voted overwhelmingly in favor. The postal ballot was conducted between June 25 and July 24, 2025.
This is an internal restructuring as the API business is being transferred to a wholly-owned subsidiary, not an external party. The near-unanimous approval (99.997%) signals strong shareholder confidence. The carve-out of the API segment may allow Jubilant Pharmova to focus on its other verticals (radiopharma, contract manufacturing, etc.), and the separately housed API business under JBL could attract focused investment or strategic value in the future.