Anthem Biosciences Board Approves New Statutory Auditors and Upside Sharing Arrangement

Anthem Biosciences Board Approves New Statutory Auditors and Upside Sharing Arrangement​

Anthem Biosciences Ltd, which was previously known as Anthem Biosciences Pvt. Ltd., announced that its Board of Directors held a meeting on Wednesday, April 22, 2026. During the meeting, the board approved and recommended several significant corporate matters, including the appointment of new statutory auditors and the continuation of an existing upside sharing arrangement.

Appointment of Statutory Auditors​

The board addressed the tenure of the company's statutory auditors. The existing auditors, K.P. Rao & Co., Chartered Accountants, will complete their current term following the twentieth Annual General Meeting proposed in the financial year 2026-2027.

Following the recommendation of the Audit Committee, the board approved the appointment of M/s. S. R. Batliboi & Associates LLP, Chartered Accountants, as the Statutory Auditors of the Company. This appointment is recommended to the shareholders for a period of five consecutive years.

Key details regarding the appointment and tenure are summarized below:

Approval of Upside Sharing Arrangement​

The board also approved an existing Upside Sharing Arrangement and recommended it for approval by the public shareholders through an ordinary resolution. This arrangement pertains to an understanding between the Promoters and Viridity Tone LLP ('Investor') concerning the sharing of returns from the Investor's post-listing divestment of the company's equity shares.

The arrangement is governed by the Shareholders' Agreement dated March 01, 2021, as amended by the Waiver-cum-Amendment Agreement dated December 30, 2024.

The core terms stipulate that if the Investor sells all or any part of its shareholding and receives a return on its original investment that exceeds the higher of (a) 25% of the amount invested by the Investor, or (b) two times the amount invested by the Investor, that excess amount (the 'Upside') shall be shared with Mr. Ajay Bhardwaj, Mr. Ganesh Sambasivam, and Mr. K Ravindra Chandrappa ('Upside Promoters'). The percentage of the Upside shared will be mutually agreed upon between the Upside Promoters and the Investor, payable in cash and/or in writing.

Transaction Implementation​

In execution of this arrangement, the Investor divested 20,313,795 equity shares of Anthem Biosciences on March 09, 2026. This divestment resulted in a net realization of INR 13,170 million.

In accordance with the terms of the agreement, INR 1,276.83 million of the net realization is payable to the Upside Promoters.

ANTHEM Stock Price Movement​

Today, Anthem Biosciences Limited shares edged higher, concluding the session at ₹759.25, posting a gain of 2.74%. The equity saw notable trading interest today, with a reported volume of 412,192 shares.