Castilia Life Sciences LLP has notified exchanges regarding a mandatory disclosure under SEBI regulations following a corporate conversion. The previous entity, Castilia Life Sciences Private Limited (“Castilia Co”), has been formally converted into a Limited Liability Partnership (“Castilia LLP”) as of February 17, 2026. Consequently, all assets, rights, and liabilities, including the shareholding in Hikal Limited, have vested in the newly formed LLP, which remains part of the promoter group.
Mandatory Disclosure Following Conversion
Castilia Life Sciences LLP submitted a formal disclosure concerning a change in the holding structure of shares in Hikal Limited (BSE: 524735, NSE: HIKAL). This required action was taken due to the conversion of the former entity, Castilia Life Sciences Private Limited (“Castilia Co”), into the current Limited Liability Partnership, “Castilia LLP,” which is a constituent of the promoter group.
Vesting of Assets and Shareholding
The conversion was finalized on February 17, 2026, upon receiving the Certificate of Registration from the Ministry of Corporate Affairs. As a direct result of this approved conversion, all previous holdings, rights, and liabilities previously held by Castilia Co have vested entirely in Castilia LLP. The date of this acquisition/vesting is cited as February 17, 2026 (Date of Conversion).
Pre- and Post-Acquisition Shareholding Summary
Prior to this vesting event, the Acquirer (Castilia LLP) held NIL shares carrying voting rights. However, the combined holding of the Persons Acting in Concert (PACs) before the conversion amounted to 1,27,20,100 shares, representing 10.31% of the total share capital of Hikal Limited.
Following the acquisition through vesting, the new combined holding of the Acquirer and its PACs is 4,29,52,014 shares, which constitutes a total voting capital stake of 34.83%. This significant increase is detailed across the PAC members, with Sugandha Hiremath holding the largest individual stake within the group at 96,67,500 shares (7.84%).
Capital Structure Context
The total equity share capital / total voting capital of the Target Company (Hikal Limited) remained consistent both before and after this restructuring event at 12,33,00,750 shares. This means the entire increase in the promoter group’s direct shareholding percentage is attributed to the transfer of ownership from the predecessor private limited company to the newly formed LLP, rather than the issuance of new securities.
Source: BSE
