Notice of 33rd Annual General Meeting of Welcure Drugs & Pharmaceuticals Limited
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Welcure Drugs & Pharmaceuticals has called its 33rd AGM on September 27, 2025 at 3:00 PM via video conferencing for FY2024-25. Key resolutions include adoption of audited financials, re-appointment of Mr. Ravi Thakor as Director, and appointment of new statutory auditors (M/s Sarang Shivajirao Chavan & Associates) and secretarial auditors (M/s Vishakha Agrawal & Associates), both for 5-year terms. Major corporate actions are proposed: a stock split from face value Rs. 10 to Rs. 1 (1:10 ratio), a bonus issue of 1 share for every 10 held (capitalizing up to Rs. 11.24 crore from reserves/securities premium), a Qualified Institutions Placement (QIP) to raise up to Rs. 80 crore, and an increase in authorized share capital from Rs. 186 crore to Rs. 196 crore. Additional resolutions seek to raise the FPI/FII investment limit to 49% of paid-up equity capital, increase the Section 186 loans/investments threshold to Rs. 500 crore, and regularize three director appointments including two new Independent Directors (Mr. Yogeshkumar Prajapati and Mrs. Bhumika Pradhan) for 5-year terms.
The stock split and bonus issue together would expand share count tenfold, improving liquidity and affordability for retail investors. The proposed QIP of up to Rs. 80 crore may lead to equity dilution, while raising the FPI limit to 49% signals openness to foreign institutional flows. Shareholders should watch for e-voting outcomes on these significant capital structure changes.