Intimation of Notice of Postal Ballot for E-Voting
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Welcure Drugs & Pharmaceuticals has sent a postal ballot notice to shareholders for three key resolutions. First, the appointment of Mr. Chintan Didawala Ganpat (DIN: 11088268) as Managing Director for 5 years from May 14, 2025, at a remuneration of Rs. 6 lakh per annum. Second, a major expansion of the company's main objects clause to include unrelated businesses such as real estate development, construction, jewellery, goldsmithing, and general trading — a sharp shift away from its pharmaceutical core. Third, an increase in authorised share capital from Rs. 116 crore to Rs. 186 crore, adding 7 crore new equity shares of Rs. 10 each. The e-voting window runs from May 16, 2025 to June 14, 2025, and results will be announced within two working days after that.
The proposed diversification into real estate, jewellery, and general trading is unusual for a pharma company and may concern shareholders expecting focus on the core drug business. The authorised capital increase suggests a possible fundraising or share issuance ahead, which could lead to dilution. Investors should watch the voting outcome and any further announcements on share issuance or new business plans.