Strides Pharma Science : Preferential issue

February 10, 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: Outcome of the Board Meeting held on February 10, 2022

Ref: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations")

We wish to inform you that the Board of Directors of Strides Pharma Science Limited ("the Company") in its meeting held today i.e., February 10, 2022 has inter alia considered and approved the following:

Item 1: Issuance of Equity Warrants under Preferential Allotment

Subject to the approval of the shareholders of the Company and other regulatory/ statutory approvals, as may be required, the Board has approved creation, offer, issuance and allotment of upto 4 Million Equity Warrants as a preferential issue on a private placement basis to Karuna Business Solutions LLP, a Promoter Group entity of the Company, at Rs. 485/- per Equity Warrant.

Additional details pursuant to Regulation 30 and other relevant provisions of the Listing Regulations is enclosed as Annexure 1.

Item 2: Re-appointment of Mr. Homi Rustam Khusrokhan as an Independent Director

Based on the recommendation of the Nomination and Remuneration Committee, Board has approved the proposal for re-appointment of Mr. Homi Rustam Khusrokhan (DIN: 00005085), as an Independent Director of the Company, for a second term of five years from May 18, 2022 upto May 17, 2027, subject to the approval of the shareholders of the Company.

Additional details pursuant to Regulation 30 and other relevant provisions of the Listing Regulations is enclosed as Annexure 2.

Item 3: Convening of Extraordinary General Meeting of shareholders of the Company

The Board has approved draft Notice of the Extraordinary General Meeting (EGM) to be held on Saturday, March 12, 2022, through video conferencing/ other audio-visual means (OAVM) for seeking shareholder's approval for the matters mentioned in Item 1 and 2 above.

This is for your information and record.

Thanks & Regards,

For Strides Pharma Science Limited,

Manjula Ramamurthy

Company Secretary

Encls. As above

Annexure 1

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

Issuance of Equity Warrants under Preferential Allotment

#		Particulars	Remarks
a)		Type of Securities proposed to be	Equity Warrants for cash, with a right to
		issued (viz., equity shares,	apply for and get allotted, within a period of
		convertibles etc.)	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	Upto 4 Million Equity Warrants at Rs. 485/-
		to be issued or	per 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	Karuna's shareholding in the Company shall
		of the subscription	increase from 1.36% to 5.57% , assuming all
			the 4 Million Equity Warrants proposed to
			be issued and allotted will be converted into
			equity shares.

(ii.b)	Issue price/ allotted price	Rs. 485/- per Warrant, derived, in the manner
	(in case of convertibles)	as stipulated under the SEBI (Issue of Capital
		and Disclosure Requirements) Regulations,
		2018.
(ii.c)	Number of investors	One
(iii)	in case of convertibles:	Equity Warrants for cash, with a right to
	intimation on conversion of	apply for and get allotted, within a period of
	securities or on lapse of the tenure	18 (Eighteen) months from the date of
	of the instrument	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.

Annexure 2

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

Re-appointment of Mr. Homi Rustam Khusrokhan as an Independent Director

#	Particulars		Remarks
1.	Reason for change viz.,		Reappointment of Mr. Homi Rustam Khusrokhan as
	appointment, resignation,		an Independent Director of the Company for a second
	removal, death or otherwise		term of five years form May 18, 2022 upto May 17,
			2027, subject to the approval of shareholders of the
2.	Date of appointment/		Company.
	cessation
	(as applicable) & terms of
	appointment
3.	Brief Profile		Mr. Homi Khusrokhan, aged 78 years, is a Fellow of
	(in case of appointment)		the Institute of Chartered Accountant of India since
			1966 and was a rank holder.
			He studied at the Sydenham College of Commerce and
			Economics and obtained a B. Com (Hons.) from the
			University of Mumbai in 1963. He also studied at the
			London School of Economics and Political Science
			between 1966-68 and obtained the degree of M.Sc.
			(Econ.), in Accounting and Finance.
			Mr. Khusrokhan has over 40 years' experience in the
			corporate sector, modern management and accounting
			techniques, pharmaceuticals, agriculture related
			businesses, international business and mergers &
			acquisitions.
			Mr. Khusrokhan is associated with Strides since May
		2017.
			At Strides, he is the Chairperson of the Risk
			Management Committee and is a Member of the Audit
			Committee, Nomination and Remuneration Committee
			and CSR Committee.