Submission of Postal Ballot Notice and its Newspaper publication
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Phaarmasia Ltd is seeking shareholder approval via postal ballot to sell its land and building at Plot Nos. 16A and 16B, Phase III, IDA Jeedimetla, Hyderabad, which the company describes as a 'substantial undertaking.' The minimum sale consideration has been fixed at ₹25 crore, payable in cash, subject to a registered valuer's report. The buyers are Mr. Mavuluri Shyam Prasad, Mrs. Mavuluri Raga Sudha, and/or M/s MSP Lab Instruments Pvt Ltd; the company confirms they are not related parties. The board approved the proposal on September 10, 2025, and the deal is targeted to be completed by December 31, 2025. E-voting runs from September 13, 2025 to October 12, 2025, and a special resolution under Section 180(1)(a) of the Companies Act is required. The company plans to use the proceeds to strengthen its balance sheet, reduce debt, fund working capital, and meet general corporate needs.
If approved, the company will receive at least ₹25 crore in cash, which could improve liquidity and reduce debt. However, selling an asset flagged as a 'substantial undertaking' is material, and shareholders should monitor the final valuation and terms when the voting result is announced by October 14, 2025.