notice of the Postal Ballot to obtain shareholders approval for Reclassification of Akshath Finvest and Properties Private Limited from Promoter/Promoter Group Category into Public Category
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Awaiting price reaction for this filing.
Sandu Pharmaceuticals has issued a Postal Ballot notice seeking shareholder approval to reclassify Akshath Finvest and Properties Private Limited from the 'Promoter/Promoter Group' category to the 'Public' category. Akshath Finvest currently holds 4,94,182 shares, representing 5.12% of the company's paid-up equity capital. The Board of Directors approved this reclassification on 28th May 2025, and BSE has already granted its approval on 26th September 2025, subject to shareholder consent. The entity has confirmed it holds less than 10% of voting rights, does not exercise control over the company, has no board representation, and is not a wilful defaulter or fugitive economic offender. E-voting will be conducted from 20th October 2025 to 18th November 2025, and the entity itself is barred from voting on this resolution.
This is a procedural reclassification where a small, non-controlling promoter entity is being moved to the public category, which will slightly reduce the formal promoter group holding and marginally increase the public shareholding classification. Since the entity already had no control or board role, this is unlikely to have a material effect on the stock price or shareholder value.