01st Extra-Ordinary General Meeting to be held on Wednesday, 07th January, 2026 for approval of Issue securities on preferential basis
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Awaiting price reaction for this filing.
Eiko Lifesciences has called an Extra-Ordinary General Meeting on January 7, 2026, to seek shareholder approval for two preferential allotments. The first proposal is to issue 33,00,000 convertible warrants at Rs. 55 each (face value Rs. 10, premium Rs. 45), raising up to Rs. 18.15 crore. The second proposal is to issue 6,75,000 equity shares at Rs. 55 each, raising up to Rs. 3.71 crore. Allottees include promoter Bhavesh Dhirajlal Tanna, promoter group entity Lenus Finvest, and non-promoter entities/individuals such as V Square Pharmachem Private Limited. Total potential fundraising is around Rs. 21.86 crore. Warrants require only 25% upfront payment with the balance due within 18 months upon conversion into equity shares.
This is a dilution event — existing shareholders will see their holding reduce once warrants are converted and shares are allotted. The fact that promoters are also subscribing shows some insider commitment, but the preferential pricing at a fixed Rs. 55 (vs. market-determined floor price) may be dilutive. Stock could see short-term pressure depending on the prevailing market price versus the issue price.