Pursuant to regulation 30 and regulation 29 of the SEBI (Listing Obligations & Disclosure Requirement) 2015, we hereby inform you that Board of Directors in their meeting held on today, ....
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Evoq Remedies has postponed its board meeting originally held on 18th April 2025 and rescheduled it to 25th April 2025. The board will consider acquiring up to 51% stake in Poshan Nutriwell Private Limited (PNPL) through a share swap (preferential issue of equity shares for consideration other than cash). Additionally, the company plans to raise up to Rs. 99 crore by issuing convertible warrants through preferential allotment to non-promoter entities, subject to shareholder and regulatory approvals. The board will also approve the draft notice for an Extra-Ordinary General Meeting (EGM). The trading window for designated persons remains closed until 48 hours after the conclusion of the rescheduled meeting.
Existing shareholders should expect potential dilution from both the share swap for the PNPL acquisition and the convertible warrant issue of up to Rs. 99 crore. The acquisition signals an expansion move into nutrition/wellness, but near-term share value may be impacted once the new shares and warrants are issued.