Outcome of Board Meeting held on 25th September, 2025 under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ....
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The Board of Fredun Pharmaceuticals approved a preferential issue of up to 6,52,360 fully paid-up equity shares at Rs. 1,250 per share (face value Rs. 10, premium Rs. 1,240), along with up to 5,73,600 convertible warrants at the same price of Rs. 1,250 each, convertible within 18 months into equity shares. Promoters Fredun Nariman Medhora (Managing Director) and Daulat Medhora are participating, alongside 63 non-promoter investors including Alchemy Capital Management, Nav Capital, Capri Global Holdings, and R R Family Trust. The combined potential raise is around Rs. 153 crore (12.26 lakh securities × Rs. 1,250). Shareholder approval will be sought at an EGM scheduled for October 22, 2025 via video conferencing.
This is a significant capital raise at a steep premium to face value, bringing in marquee institutional investors, which signals promoter confidence and could strengthen the balance sheet. However, the large dilution (warrants + shares) may weigh on the stock in the short term until warrants are exercised or expire.