Torrent Pharmaceuticals Sells UNM Foundation Stake to Holding Company for ₹5 Lakh

Torrent Pharmaceuticals Limited has announced the sale of its equity stake in UNM Foundation to its holding company, marking a strategic restructuring within the corporate group. The pharmaceutical company disclosed this transaction to stock exchanges on March 30, 2026, in compliance with regulatory requirements.

Transaction Details

The sale involved 50,000 equity shares of UNM Foundation, each carrying a face value of ₹10.00. The total consideration for the transaction amounted to ₹5,00,000, with the shares being transferred to Torrent Investments Limited, which serves as the holding company and promoter of Torrent Pharmaceuticals.

Parameter Details Number of Shares 50,000 equity shares Face Value per Share ₹10.00 Total Consideration ₹5,00,000 Buyer Torrent Investments Limited Transaction Date March 30, 2026 Transaction Time 19:40 pm

Regulatory Compliance

The company has classified this as a related party transaction conducted at arm's length, as required under SEBI regulations. Since the shares were sold to the holding company, no formal sale agreement was entered into for this internal group restructuring.

Compliance Aspect Status Related Party Transaction Yes, at arm's length Sale Agreement Not required (internal transfer) Completion Status Completed Regulatory Framework Regulation 30 of SEBI LODR

About UNM Foundation

UNM Foundation operates as a Section 8 company, which typically indicates its non-profit status under Indian corporate law. The company disclosed that UNM Foundation does not generate revenue or turnover, consistent with its Section 8 classification. This transaction represents a complete divestiture of Torrent Pharmaceuticals' stake in the foundation.

Corporate Structure Impact

The sale consolidates UNM Foundation's ownership within the promoter group structure, with Torrent Investments Limited now holding the equity stake previously maintained by the pharmaceutical subsidiary. This internal reorganization does not involve external parties and maintains the foundation within the broader Torrent corporate ecosystem.

Torrent Pharmaceuticals Limited has received a corrigendum order from the National Company Law Tribunal (NCLT) Ahmedabad Bench and has now scheduled an equity shareholders meeting to consider the proposed amalgamation with J.B. Chemicals & Pharmaceuticals Limited. The company filed official communications on March 28, 2026, announcing the NCLT-directed meeting scheduled for April 28, 2026.

NCLT Order and Meeting Schedule

Following the NCLT Ahmedabad Bench order dated March 23, 2026, and subsequent corrigendum order dated March 24, 2026, Torrent Pharmaceuticals has scheduled a crucial shareholders meeting. The meeting will be conducted through video conferencing/other audio-visual means on Tuesday, April 28, 2026, at 10:00 a.m. (IST).

Meeting Details: Information Meeting Date: Tuesday, April 28, 2026 Meeting Time: 10:00 a.m. (IST) Meeting Mode: Video Conferencing/Audio-Visual NCLT Order Date: March 23, 2026 Corrigendum Date: March 24, 2026

Remote E-Voting Schedule

Equity shareholders will have the opportunity to participate through remote e-voting facility prior to the meeting. The company has established a comprehensive voting timeline to ensure maximum participation in the amalgamation approval process.

E-Voting Timeline: Details Start Date: Friday, April 24, 2026 at 09:00 a.m. (IST) End Date: Monday, April 27, 2026 at 05:00 p.m. (IST) Cut-off Date: Tuesday, April 21, 2026 Record Date: Friday, March 20, 2026

Official Communications and Compliance

Torrent Pharmaceuticals filed intimations with both BSE Limited and National Stock Exchange of India Limited on March 28, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by Chintan M. Trivedi, Company Secretary, and included newspaper publication details in Indian Express (English) and Sandesh (Gujarati) editions.

Regulatory Details: Information BSE Scrip Code: 500420 NSE Stock Symbol: TORNTPHARM Filing Date: March 28, 2026 Company Secretary: Chintan M. Trivedi CIN: L24230GJ1972PLC002126

Amalgamation Structure and Tribunal Appointments

Under the proposed Scheme of Amalgamation, J.B. Chemicals & Pharmaceuticals Limited will serve as the transferor company, while Torrent Pharmaceuticals Limited will act as the transferee company. The NCLT has appointed key officials to oversee the meeting proceedings, ensuring proper governance and compliance.

Meeting Officials: Appointments Chairperson: Mahesh Gupta (Independent Company Secretary) Alternate Chairperson: Gunjan Agarwal (Independent Advocate) Scrutinizer: Rajesh Parekh (Membership No. A8073) Alternate Scrutinizer: Aishwarya Parekh (Membership No. F13318)

Shareholder Participation Guidelines

Shareholders whose names appear in the register of members or beneficial owners as on the cut-off date will be entitled to vote on the amalgamation proposal. The company has made arrangements for both physical and electronic copies of meeting notices, with detailed instructions available on the company website and stock exchange platforms. Physical attendance has been dispensed with due to the video conferencing format, and proxy appointments are not available for this meeting.

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