Allotment of Equity Shares and Warrants on Preferential Basis.
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Fredun Pharmaceuticals has allotted 6,44,360 equity shares at ₹1,250 per share (including a ₹1,240 premium) to raise about ₹80.55 crore on a preferential basis. It has also issued 5,51,600 convertible warrants at the same ₹1,250 exercise price, with 25% (₹312.50 per warrant) collected upfront, amounting to ₹17.24 crore, and the balance ₹51.71 crore due on conversion within 18 months. The total potential inflow, if all warrants are exercised, is about ₹149.50 crore. Allotments were made to 62 allottees, including notable institutions such as Alchemy Capital Management, Alchemy Long Term Ventures Fund, NAV Capital, and Capri Global Holdings, alongside promoter-group warrants.
This is a meaningful capital raise that strengthens the company's balance sheet but is also dilutive because shares are being issued at a premium to face value across a large number of allottees. Existing shareholders should note potential equity dilution as warrants convert over the next 18 months, though the cash infusion supports growth or debt-reduction plans.