Board approves SIGPL acquisition, Rs 210 Cr Rights Issue, RO shift to Maharashtra
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Board approved acquiring 100% of Sushodha Institute of Gastroenterology (SIGPL), a specialty gastroenterology hospital in Shivamogga, for about Rs 15.49 crore via share swap of 38.71 lakh shares at Rs 40 each. SIGPL turnover rose from Rs 6.36 cr in FY24 to Rs 8.99 cr in FY26. Also approved a Rights Issue up to Rs 210 crores, set up a Rights Issue Committee, and shifted registered office from Assam to Maharashtra.
Share swap will dilute existing holders. Acquisition adds revenue and specialty hospital footprint. Rights Issue of up to Rs 210 cr may cause further dilution. Subject to shareholder approval via postal ballot.