The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Fredun Nariman Medhora & Others
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Fredun Pharmaceuticals promoter group, comprising Fredun Nariman Medhora, Daulat Nariman Medhora and Nariman Medhora, disclosed the conversion of 40,000 warrants into equity shares on April 9, 2026. Before the conversion, the promoter group held 25,10,385 shares/warrants (45.88% of total voting capital and 42.43% on a diluted basis). After conversion, the total holding remains 25,10,385 units but the composition shifts — voting equity shares rise to 24,57,053 while outstanding warrants drop to 53,332. The promoter's percentage of total voting capital slightly dilutes to 45.54% (42.42% on diluted basis) because the company's paid-up capital increased from 5,47,26,900 to 5,51,26,900 shares. Paid-up capital of the company went up by 4,00,000 shares (40,000 warrants x Rs.10 face value) due to this exercise.
This is a routine, non-cash event — promoters simply exercised warrants they already owned rather than buying fresh shares from the market. No real change in promoter economic interest or control, and no fresh capital was raised from outside investors. Shareholders are unlikely to see any meaningful impact on stock price or promoter control dynamics from this disclosure.