Minutes of the resolution passed by way Postal Ballot
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Oxygenta Pharmaceutical Ltd (subsidiary of Virupaksha Organics) has disclosed the minutes of a postal ballot held on December 11, 2025, in which shareholders approved the reclassification of four members of the Vankineni family (Sai Sudhakar, Snigdha, Sumanth Simha, and Jhansi Rani Vankineni) from the Promoter/Promoter Group category to the Public category. These four shareholders collectively hold 9,42,700 equity shares, representing about 2.55% of the company's paid-up capital. The resolution was passed with overwhelming support, with 2,04,83,791 votes in favor out of 2,04,87,243 valid votes cast, against just 3,452 dissenting votes. BSE had already granted its no-objection on October 16, 2025, prior to the postal ballot. The company also confirmed that post this reclassification, it remains compliant with minimum public shareholding norms and there are no outstanding dues to SEBI or the exchanges.
This is a procedural, regulatory-driven reclassification involving a small group of shareholders (about 2.55% stake) with no change in control, board composition, or business operations. Minimal impact on stock price is expected, but it slightly reduces the promoter group shareholding, which technically increases the public float.