Novelix Pharma amends EGM for preferential issue due to SEBI violations

Novelix Pharmaceuticals Ltd has issued a corrigendum to its Extra-Ordinary General Meeting (EGM) notice dated June 4, 2026, for the EGM scheduled on July 1, 2026. The amendment pertains to Item No. 1 of the EGM notice and explanatory statement, specifically regarding a preferential allotment of 1,200,000 equity shares. Two proposed allottees, Sakshi Malani (150,000 shares) and Pallapothu Sivakrishna (25,000 shares), have been disqualified from receiving shares. This disqualification is due to violations of Regulation 159(1)(c) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as they sold shares within 90 trading days preceding the relevant date. The 175,000 disqualified shares will be re-allocated to three existing proposed allottees: Suman Rajiv Bihani, Vedant Rajiv Bihani, and Prakash Galda, with each receiving an additional 50,000 equity shares.