Revised outcome of Board Meeting held on 2nd September, 2025.
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Venmax Drugs' board has approved a merger with Hatri Pharma Private Limited (HPPL) under a scheme of amalgamation, with a share swap ratio of 1 equity share of Venmax (face value Rs 10) for every 1 share held in HPPL. HPPL is notably larger — net worth of about Rs 16.44 crore and turnover of Rs 16.45 crore (unaudited, as of August 31, 2025) versus Venmax's Rs 8.04 crore net worth and Rs 2.53 crore turnover. The merger is subject to shareholder, SEBI, BSE and NCLT approvals. To accommodate the deal, the board approved raising authorised share capital from Rs 22 crore to Rs 60 crore, creating 3.8 crore additional shares of Rs 10 each. The 36th AGM is set for September 27, 2025 via video conferencing. Separately, Mrs. Dakshita Jain was appointed as a Non-Executive Independent Director for 5 years, while Mrs. Pilli Meena Kumari resigned as Independent Director citing personal reasons.
For shareholders, the merger brings a larger pharma manufacturer into Venmax, potentially boosting scale and backward integration, but the 1:1 swap combined with a near-tripling of authorised capital signals significant share dilution ahead. The deal remains contingent on multiple regulatory and shareholder approvals, so near-term stock movement will depend on how the market reads the swap terms and HPPL's true earnings quality once audited.