Postal Ballot approval on reclassification of Promoter into Public
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Sandu Pharmaceuticals has received shareholder approval via postal ballot to reclassify Akshath Finvest and Properties Private Limited (holding 4,94,182 shares, 5.12%) from the 'Promoter/Promoter Group' category to the 'Public' category, under SEBI LODR Regulation 31A. As a result, promoter group shareholding falls from 42.90% (41,44,730 shares) to 37.79% (36,50,548 shares), while public shareholding rises from 57.10% to 62.21% (60,10,442 shares). The ordinary resolution was passed with 92.02% votes in favour and 7.98% against, with no invalid votes. This follows prior intimations in May and September 2025 regarding the reclassification proposal.
This reclassification reduces the effective promoter stake to below 38%, weakening promoter control and increasing public float, which may improve liquidity and trading volume in the stock. The high approval margin (92%) signals strong shareholder support for the move.