Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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The Board approved the amalgamation of Hatri Pharma Private Limited (HPPL) into Venmax Drugs and Pharmaceuticals Limited under Sections 230-232 of the Companies Act, with a 1:1 share swap ratio. HPPL is significantly larger with a net worth of Rs. 16.44 crore and turnover of Rs. 16.45 crore, versus VDPL's net worth of Rs. 13.06 crore and turnover of Rs. 2.53 crore. The merger aims to achieve operational synergies, backward integration, and economies of scale in the pharmaceutical intermediates business. Authorised share capital is being raised from Rs. 22 crore to Rs. 60 crore to accommodate the merger. The 36th AGM was scheduled for September 27, 2025 via video conferencing. Additionally, Mrs. Dakshita Jain was appointed as a Non-Executive Independent Director, while Mrs. Pilli Meena Kumari resigned citing personal reasons.
This is a sizable acquisition relative to VDPL's size - HPPL's turnover is over 6x VDPL's, potentially driving significant revenue growth post-merger. Shareholders will see dilution if new shares are issued for the swap, and the deal requires NCLT, SEBI, and public shareholder approvals before becoming effective.