Strides Pharma Science : Extra Ordinary Meeting

March 14, 2022
BSE Limited	The National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,	Exchange Plaza, Bandra-Kurla Complex
Dalal Street, Mumbai - 400 001	Bandra (E) Mumbai - 400 051
Scrip code: 532531	Scrip code: STAR
Dear Madam/ Sir,
Sub: Update on Proposed Preferential Issue

We refer to our intimation dated February 10, 2022 regarding the proposed preferential issue of upto 4 Million equity warrants to M/s. Karuna Business Solutions LLP, a promoter group entity ("Communication").

Further to the Communication, we request you to take the following on record:

• The Communication had been issued to, inter alia, substantiate the intent of Mr. Arun Kumar, Founder and Promoter of the Company, to increase the Promoter Groups' stake in the Company.
  The intent of the proposed increase was to demonstrate and reiterate the Promoter Group's continued commitment to the Company, and to address the impact on the overall promoter group shareholding in the Company, which would reduce on account of the ongoing Promoters Reclassification wherein certain individuals inter alia belonging to the erstwhile Shasun Promoters' Group have applied for reclassification as public shareholders of the Company.
• Owing to the general bearish trend in the global securities market due to external factors, the Promoter Group have been acquiring shares in the secondary market and we have been informed by the Promoter Group that they intend to acquire in aggregate about 1% (one per cent) of the Company's shares from the secondary market.
• Whilst the overall commitment of the Promoter Group was to acquire up to 4 Million shares through subscription of warrants in the Company, due to prevailing global external factors, the Promoters have revised their intent to subscribe upto 2 Million equity warrants.
  Kindly note that the promoter group will continue to increase the group's stake through secondary market acquisitions in furtherance of the objective above, and in compliance with the provisions of applicable law.
• The Board of Directors have considered their submission and have approved their revised proposal to subscribe upto 2 million equity warrants at Rs. 442/- per warrant, which is higher than the floor price arrived at in terms of the SEBI ICDR Regulations.

Accordingly, it is now proposed to conduct Extraordinary General Meeting of the Company through Video Conference/ Other Audio-Visual Means on April 7, 2022 at 14:30 hours IST to consider the following matters:

1. Re-appointmentof Mr. Homi Rustam Khusrokhan (DIN 00005085) as an Independent Director of the Company for a second term of five years;
2. Issuance of upto 2 Million Equity Warrants to M/s. Karuna Business Solutions LLP, a promoter group entity.

Revised disclosure under Regulation 30 in terms of SEBI Listing Regulations for the preferential issue is enclosed as Annexure 1 for your reference.

As required under SEBI Listing Regulations, we are enclosing herewith Notice of the EGM as Annexure 2, which is being sent through electronic mode to the Members of the Company. A copy of the same is also available on the Company's website www.strides.com.

Request you to kindly take the same on record and oblige.

Thanks & Regards,

For Strides Pharma Science Limited,

Manjula Ramamurthy

Company Secretary

Encls. As above

Annexure 1

Revised Disclosure under Regulation 30 and other relevant provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Update on Proposed Preferential Issue

#		Particulars	Remarks
a)		Type of Securities proposed to be issued	Equity Warrants for cash, with a right to apply
		(viz., equity shares, convertibles etc.)	for and get allotted, within a period of 18
			(Eighteen) months from the date of allotment of
			warrants, one Equity Share of face value of Rs
			10/- each for each Warrant.
b)		Type of Issuance	Preferential Allotment by way of
		(viz., further public offering, rights	Private Placement.
		issue, depository receipts (ADR/GDR),
		qualified institutions placement,
		preferential allotment etc.)
c)		Total number of securities proposed to	Upto 2 Million Equity Warrants at Rs. 442/- per
		be issued or	Equity Warrant.
		the total amount for which the securities
		will be issued (approximately)
d)	In case of preferential issue, the listed	entity shall disclose the following additional
		details to the stock exchange(s):
(i)	Name of the Investors	Karuna Business Solutions LLP, a promoter
			group entity ("Karuna")
(ii.a)		Post allotment of securities, outcome of	Karuna's shareholding in the Company shall
		the subscription	increase from 1.36% to 3.51% , assuming all the
			2 Million Equity Warrants proposed to be issued
			and allotted will be converted into equity shares.
(ii.b)	Issue price/ allotted price	Rs. 442/- per Warrant, derived, in the manner as
		(in case of convertibles)	stipulated under the SEBI (Issue of Capital and
			Disclosure Requirements) Regulations, 2018.
(ii.c)		Number of investors	One

1. in case of convertibles:
   intimation on conversion of securities or on lapse of the tenure of the instrument

Equity Warrants for cash, with a right to apply for and get allotted, within a period of 18 (Eighteen) months from the date of allotment of warrants, one Equity Share of face value of Rs 10/- each for each Warrant.

Option for conversion is available only upon payment of full price of the Equity Warrants.

*****

STRIDES PHARMA SCIENCE LIMITED

CIN: L24230MH1990PLC057062

Regd. Office: 201, 'Devavrata', Sector - 17, Vashi, Navi Mumbai - 400 703.

Tel No.: [phone]/ 2789 3199

Corp. Office: 'Strides House', Bilekahalli, Bannerghatta Road, Bengaluru - 560 076.

Tel No.: [phone]/ 6784 0290

Website:www.strides.com; Email:[e-mail]

_________________________________________________________________________________

Dear Shareholders,

Invitation to attend the Extraordinary General Meeting of the Company on Thursday, April 7, 2022

You are cordially invited to attend the Extraordinary General Meeting (EGM) of the Company scheduled to be held on Thursday, April 7, 2022 at 14:30 hours IST through video conferencing. Notice convening the EGM is attached herewith.

In order to enable ease of participation of the Shareholders, we are providing below the key details regarding the meeting for your reference:

#	Particulars	Details
1.	Link for live webcast of	https://emeetings.kfintech.com/
	the Extraordinary
	General Meeting
	(EGM) and for
	participation through
	Video Conferencing
	(VC)
2.	Link for remote e-	https://evoting.kfintech.com/
	voting
3.	Username and password	Shareholders may attend the EGM through VC by accessing the link
	for VC	https://emeetings.kfintech.com/by using the remote e-voting
		credentials.
		Please refer the instructions of this Notice for further information.
4.	Helpline number for	Contact Mr. Raju S.V of KFin Technologies Limited (formerly
	VC participation and e-	known as KFin Technologies Pvt. Limited) at
	voting	1800 309 4001 (toll free).
5.	Cut-off date for e-	Thursday, March 31, 2022
	voting

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