Corrigendum to EGM notice - reallocates shares of disqualified allottees

Board & Shareholder Meetings View source PDF

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-10.2%1-day move

₹84.40

prior close

₹84.82

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AI summary

Novelix Pharmaceuticals issued a corrigendum to its EGM notice (EGM on 01 July 2026) for a 12 lakh equity share preferential issue. BSE found that proposed allottees Sakshi Malani and Pallapothu Sivakrishna sold shares within 90 trading days before the relevant date, breaking SEBI ICDR rules, so they are disqualified. Their 1,75,000 shares are reallocated to existing allottees Suman Bihani, Vedant Bihani, Prakash Galda (50,000 each) and T Praveen Kumar (25,000). Total issue size stays at 12 lakh shares.

Likely market impact

No change in total preferential issue size. Only reallocation among non-promoter allottees. Procedural fix with minimal stock price impact.