Syncom Formulations (India) Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
SYNCOMF · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Directors of Syncom Formulations, at its meeting on 8th August 2025, approved several amendments to the company's AOA and MOA, subject to shareholder approval at the 37th Annual General Meeting scheduled for 29th September 2025. New Articles 2(j), 2(k), 15(3) and 15(4) are being inserted in the AOA, covering definitions for power purchase agreements, solar/wind power projects, sweat equity shares/convertible warrants, and Employee Stock Option Schemes (ESOPs). Article 118 is being substituted to introduce a mechanism allowing shareholders to voluntarily waive or forgo their right to receive dividends. The MOA is being expanded with a new substituted Clause 2 to cover power generation (solar, wind, thermal, hydel, etc.) and two new clauses — Clause 6 for nutraceuticals, dietary supplements and health/wellness products, and Clause 7 for real estate development and infrastructure projects.
The company is signalling a major diversification beyond its core pharmaceutical formulations business into power/renewable energy, nutraceuticals, and real estate. The new provisions for sweat equity, convertible warrants and ESOPs could lead to future dilution for existing shareholders, while the dividend waiver clause is a procedural change that does not affect current holders. All changes are conditional on shareholder approval at the 29th September 2025 AGM.