Voting Results of 33rd Annual General Meeting of Welcure Pharmaceutical Limited held on 27th September, 2025.
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Welcure Drugs & Pharmaceuticals Ltd held its 33rd AGM on September 27, 2025 via video conferencing, where all 13 resolutions were passed. Key outcomes include: adoption of FY25 audited financials, appointment of new statutory auditor M/s Sarang Shivajirao Chavan & Associates and secretarial auditor M/s Vishakha Agrawal & Associates for 5-year terms, regularization of three directors (Mr. Ravi Thakor as Non-Executive Non-Independent, Mr. Yogeshkumar Prajapati and Mrs. Bhumika Pradhan as Independent Directors for 5 years). Shareholders approved raising the company's borrowing/investment limit under Section 186 to Rs. 500 Crores, increasing the FPI/FII aggregate holding ceiling to 49%, splitting each Rs. 10 face value equity share into 10 shares of Rs. 1 each (10:1 stock split), and issuing bonus shares in a 1:10 ratio (1 bonus share for every 10 held). The meeting ran from 3:00 PM to 3:27 PM with 62 public shareholders attending virtually. Total shares outstanding are 11,23,58,200; voting turnout was very low at just 2.37% (26,58,526 votes polled), and the company has no promoter/promoter group holdings.
Shareholders should expect a 10:1 stock split followed by a 1:10 bonus issue, which will increase share count significantly while keeping underlying value unchanged—price per share will mechanically adjust downward. The Rs. 80 Crore QIP authorization (resolution 13) paves the way for potential equity dilution. Low voting turnout and absence of promoter holding mean outcomes were driven entirely by retail/public non-institutional shareholders.