Revised Intimation under reg 30 of SEBI LODR Regulations, 2015
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Oxygenta Pharmaceutical Ltd has informed the stock exchange that Mr. Vankineni Sai Sudhakar (DIN: 00733001) has resigned from both the Managing Director and Chief Financial Officer positions, effective 18 August 2025. Separately, Mr. Sanagari Kondal Reddy (DIN: 02530466) has also resigned as Independent Director on the same date. Both resignations are attributed to a change in ownership and management of the company, with Mr. Reddy's letter explicitly mentioning a 'subsequent takeover.' This suggests the company is undergoing a change of control, prompting the existing top leadership and independent director to step down. Mr. Balasubba Reddy Mamilla (DIN: 01998852) remains on the board as Executive Director and appears to be part of the incoming management.
The simultaneous exit of the MD, CFO and Independent Director signals a takeover or change in control of the company. Shareholders should expect further announcements about new management, board reconstitution and the identity of the acquirer. In the short term, this governance churn could increase uncertainty around the stock; in the longer term, the outcome depends on who the new promoters are and their plans for the business.