On 12th March 2025, Beta Drugs Ltd. informed the National Stock Exchange of India Ltd. (NSE) regarding the approval of several key resolutions passed through postal ballot. The resolutions, approved by shareholders on 11th March 2025, cover critical corporate actions including an increase in the authorized share capital, the issue of bonus shares, the appointment of Independent Directors, and the migration of the company’s shares to the main board of NSE and BSE.

The resolutions were passed following the postal ballot notice dated 5th February 2025, and the remote e-voting period took place from 10th February 2025 to 11th March 2025. The final report submitted by the Scrutinizer, Mr. Dinesh Bhandari, on 12th March 2025, confirmed the results, as the resolutions were passed by the requisite majority.

Key Resolutions Passed

Resolution No. 1: Increase in Authorized Share Capital

The first resolution focuses on increasing the authorized share capital of the company from INR 10.5 crores to INR 11 crores. The capital increase will consist of 1,10,00,000 equity shares of INR 10 each. This will allow the company greater flexibility to issue new shares in the future, supporting its expansion and growth strategies. The Memorandum of Association will be amended accordingly, substituting the existing clause with the new authorized capital figure.

Resolution No. 2: Issuance of Bonus Shares

The second resolution approved the issue of bonus shares to the shareholders of the company. The shareholders will receive one bonus share for every 20 shares held, based on a capitalization of INR 51,60,760 from the company's free reserves and securities premium account. This bonus issue demonstrates the company’s confidence in its financial strength and aims to reward existing shareholders.

Further, the resolution outlines the process for the issuance of these bonus shares, including the treatment of fractional shares, which will be handled by the Board. The company also confirmed that bonus shares will be credited to dematerialized accounts or issued in physical form for shareholders holding shares in physical form.

Resolution No. 3 & 4: Appointment of Independent Directors

The company also appointed Mrs. Monica Jain and Mr. Lalit Kumar Watts as Independent Directors, each for a term of 5 years beginning from 5th February 2025 to 4th February 2030. This strategic appointment strengthens the company’s governance structure, ensuring that Beta Drugs Ltd. benefits from independent oversight and a broader range of expertise in its management.

The appointments were made following the recommendations of the Nomination and Remuneration Committee and approval from the Board of Directors.

Resolution No. 5: Migration of Listing to NSE & BSE Main Boards

In one of the most significant resolutions, Beta Drugs Ltd. obtained shareholder approval for the migration of its equity shares from the NSE Emerge platform to the main boards of NSE and BSE. This migration is a major step for the company’s growth, signaling its readiness to meet the eligibility criteria set by both exchanges. The resolution outlines the process for listing the company’s shares on the main boards, subject to regulatory approvals and adherence to the SEBI ICDR (Issue of Capital and Disclosure Requirements) and other applicable regulations.

The migration will allow Beta Drugs Ltd. to access a larger pool of investors and increase its market visibility. The company will also ensure compliance with all applicable laws governing such a migration, including SEBI LODR (Listing Obligations and Disclosure Requirements) regulations.

Conclusion

The passage of these resolutions marks an important milestone in the evolution of Beta Drugs Ltd. The increase in authorized share capital, issuance of bonus shares, appointment of independent directors, and migration to the main boards of NSE and BSE collectively reflect the company’s strategic efforts to strengthen its position in the market. These actions are designed to enhance the company's corporate governance, financial stability, and market presence.

The company is now well-positioned for future growth, with a solid capital base and enhanced corporate oversight. Moving forward, Beta Drugs Ltd. is expected to leverage these decisions to achieve its business objectives and create more value for its shareholders.

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