Outcome of the Postal Ballot pertaining to reclassification of M/s Akshath Finvest and Properties Private Limited from Promoter Group category to Public category
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sandu Pharmaceuticals conducted a postal ballot (e-voting from Oct 20 to Nov 18, 2025) to reclassify M/s Akshath Finvest and Properties Private Limited from the 'Promoter/Promoter Group' category to the 'Public' category. Akshath Finvest holds 4,94,182 shares, which is 5.12% of the company's paid-up equity capital. The resolution was passed with overwhelming support: 92.02% of votes in favour (51,99,357 shares from 36 members) and just 7.98% against (4,50,663 shares from 3 members). Notably, all promoter group shareholders (holding 35,65,548 shares) voted 100% in favour of the reclassification. The company confirmed that Akshath Finvest holds less than 10% of capital, does not exercise control, is not on the board, and has no special rights.
This is a paper reclassification rather than a change in ownership — the shares remain with Akshath Finvest, they just move from the 'promoter group' bucket to the 'public' bucket in the shareholding pattern. It reduces the company's effective promoter group shareholding by 5.12 percentage points going forward, but is unlikely to materially impact stock price or shareholder value since no shares changed hands.