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Shukra Pharmaceuticals held an Extra Ordinary General Meeting (EOGM) on November 1, 2025, via video conferencing, where one special resolution was passed. The resolution approved the issue of convertible equity warrants on a preferential basis to the company's promoters for cash consideration. Out of 22,247 total shareholders, only 57 attended the meeting (5 promoters and 52 public). The voting saw extremely low participation, with just 4,238 shares voted out of over 437 million outstanding shares (0.001%). Of the votes cast, 99.53% (4,218 shares) were in favor and 0.47% (20 shares) were against. Notably, promoters holding approximately 223 million shares did not cast any votes, and public shareholders holding 214 million shares saw negligible turnout.
The approval allows the company to issue convertible warrants to promoters, which could lead to equity dilution for existing public shareholders upon conversion. The extremely low voting turnout (effectively decided by a handful of shareholders) means this approval was a formality rather than a broad mandate, and retail investors should monitor any subsequent capital raise announcements.