Notice Convening EOGM of the Company.
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Fredun Pharmaceuticals has called an Extra-Ordinary General Meeting on October 22, 2025, at 9:00 AM via video conferencing to seek shareholder approval for three fundraising proposals through preferential allotments at Rs. 1,250 per share/warrant (face value Rs. 10, premium Rs. 1,240). The company plans to issue 5,73,600 convertible warrants to promoters — including Managing Director Fredun Nariman Medhora (1,60,000 warrants) and Daulat Nariman Medhora (40,000 warrants) — raising up to Rs. 71.70 crores. It also proposes issuing 6,52,360 equity shares to 44 non-promoter allottees (including Alchemy Capital Management, Capri Global Holdings, and NAV Capital funds) at Rs. 1,250 per share, aggregating to about Rs. 81.55 crores. A further 5,73,600 convertible warrants are proposed to be issued to non-promoters at the same price, raising another Rs. 71.70 crores. Warrants carry 25% upfront payment with the balance due within 18 months, and all securities are subject to SEBI ICDR lock-in rules.
If approved, the combined preferential issue and warrants could raise up to roughly Rs. 225 crores but will significantly expand the share count and dilute existing shareholders. Promoter participation signals insider confidence, while the broad institutional and HNI non-promoter list suggests strong market interest at the steep premium price.