Sudarshan Pharma Industries Ltd announced that its Board of Directors has approved the migration of the company’s listing and trading from the SME Platform of BSE Limited to the Main Board of BSE, subject to shareholders’ approval.
The board also approved making an application for listing and trading of the company’s equity shares on the Main Board of National Stock Exchange of India Limited (NSE), subject to shareholders’ approval and regulatory clearances.
Further, the company approved the postal ballot notice and calendar of events for seeking members’ approval for the proposed migration from the BSE SME platform to the BSE Main Board, along with the proposed NSE Main Board listing and related matters.
The company has appointed National Securities Depository Limited (NSDL) to provide remote e-voting facilities for the postal ballot process.
Additionally, Mr. Vishal Manseta, Company Secretary in Practice, has been appointed as the scrutinizer for conducting and monitoring the e-voting process in a fair and transparent manner.
According to the company, the postal ballot notice will be sent to shareholders and stock exchanges in due course. The notice will also be available on the company’s official website and the BSE website.
Migration from the SME platform to the main board is generally considered an important milestone for companies as it may improve visibility, liquidity, and wider investor participation.