Corrigendum to the Notice of EGM to be held on 31st Day of July,2025 through VC/OVAM
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Concord Drugs Limited has issued a corrigendum dated July 22, 2025 to its original EGM notice dated July 9, 2025, in response to queries from BSE. The EGM is scheduled for July 31, 2025 via video conferencing and includes two preferential allotment proposals to strategic investors. Under Item-2, the company plans to raise ₹11.52 crore, with ₹4.32 crore (37.5%) for working capital, ₹4.32 crore (37.5%) for upgrading manufacturing facilities to meet revised Schedule M-cGMP 2022 norms, and ₹2.88 crore (25%) for general corporate purposes. Under Item-3, it plans to raise ₹7.35 crore, with similar split: ₹2.75 crore each (37.5%) for working capital and cGMP-compliant facility upgrades, and ₹1.83 crore (25%) for general corporate purposes. The corrigendum also provides revised list of proposed allottees — promoters S. Nagi Reddy, S. Koni Reddy, and S. Manoj Kumar Reddy are participating in both issues alongside public allottees. Promoter holding will dilute slightly but remain majority. A Practising Company Secretary certificate from M/s PSK & Associates confirming SEBI ICDR compliance has been made available on the company website.
This is a corrective disclosure, not new business. For shareholders, it confirms the company is moving ahead with a ~₹18.87 crore preferential fundraising from promoters and select investors, with clearly defined deployment over 12–15 months. The promoter participation signals insider confidence, though existing public shareholders face dilution. Watch for the EGM voting outcome on July 31, 2025.