Vaishali Pharma Limited has informed the Exchange regarding Notice of Postal Ballot
VAISHALI · price
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Awaiting price reaction for this filing.
Vaishali Pharma has issued a corrigendum to its Postal Ballot notice (originally dated 13 February 2026) on the directions of NSE dated 23 February 2026. The corrigendum provides additional and clearer details on a proposed preferential issue of shares to acquire a 51.02% stake in Kesar Pharma Limited, with part of the purchase consideration to be paid through equity shares. The floor price has been fixed at Rs. 9.46 per share, based on the 90-day volume weighted average price on NSE (the 10-day VWAP was Rs. 8.02). The actual issue price is set at Rs. 20 per share, which is more than double the floor price. Valuation was carried out by Mr. Anirudh Kumar Tanvar, a Registered Valuer. The relevant date for pricing is 13 February 2026, and the proposed allottee currently holds no shares in the company. E-voting runs from 14 February to 15 March 2026, and members who have already voted can revise their vote by emailing the scrutinizer before 5 PM on 15 March 2026.
The preferential issue price of Rs. 20 is well above the regulatory floor price of Rs. 9.46, which is positive for existing shareholders as it limits the number of shares that need to be issued for the acquisition. The acquisition of a majority stake in Kesar Pharma signals a strategic expansion, but also means share dilution from the new issuance. Shareholders should review the revised terms before the voting deadline of 15 March 2026.