Board approved reclassification request received to change the status from Promoter to Public shareholder.
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The board approved the reclassification of four members of the Vankineni family from 'Promoter Group' to 'Public' shareholders, collectively holding about 9.43 lakh shares (~2.55% of equity), subject to stock exchange and shareholder approval. The Managing Director and CFO, Vankineni Sai Sudhakar, and Independent Director Sanagari Kondal Reddy both resigned effective August 18, 2025, citing a change in ownership and management of the company, pointing to a likely takeover. Board committees have been reconstituted entirely with new Additional Directors, and the AGM for FY 2024-25 is scheduled for September 19, 2025 via video conferencing.
This filing signals a significant change in control at Oxygenta Pharmaceutical, with the old promoter group stepping down and new management taking over. Shareholders should watch for further disclosures about the incoming promoter group and any potential open offer or takeover-related obligations that may follow.