Pursuant to Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors in their meeting held today i.e., ....
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Evoq Remedies' board, meeting on 29th April 2025, approved increasing authorised share capital to Rs 42 crore. It cleared issuance of up to 63.36 lakh equity shares through a preferential, non-cash swap to acquire 71.95% stake in Poshan Nutriwell Private Limited. Separately, up to 1 crore equity shares will be issued via another share swap to acquire 50.36% stake in Spazio Formulations Limited. The board also approved altering the main objects clause of the MOA to add agriculture and agro-based product businesses (castor oil, soyabean meal, protein concentrates, etc.). An Extra-Ordinary General Meeting will be held to seek shareholder approval for these actions.
The acquisitions and business diversification into agro-products signal an expansion drive funded entirely through share dilution rather than cash. Existing shareholders should expect significant equity dilution once the preferential allotments are completed, while the EGM will be the key checkpoint for approval.