Granules India Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on January 22, 2026
GRANULES · price
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Granules India has called an Extraordinary General Meeting on January 22, 2026 to seek shareholder approval for two preferential allotment proposals totaling up to about ₹1,762 crores. The first item is the issuance of up to 2.5 crore convertible warrants at ₹585 per warrant, aggregating to ₹1,462.50 crores, with promoter group (led by Mrs. Chigurupati Uma Devi taking 2.48 crore warrants) and one senior management person as allottees. The second item is the issuance of up to 51,28,205 equity shares at ₹585 per share, totalling ₹300 crores, to institutional investors including 360 One group of funds and the Public Sector Pension Investment Board. The issue price of ₹585 was set as the higher of the 90-day VWAP (₹527.09), 10-day VWAP (₹574.04), or the independent valuer's price (₹553.18). Net proceeds are earmarked for business operations and capex (₹775 cr), vendor and R&D payments (₹350 cr), and general corporate purposes (₹337.50 cr), to be deployed over 24 months. E-voting runs from January 19-21, 2026, with a cut-off date of January 15, 2026.
The combined preferential issuance represents meaningful potential dilution for existing shareholders if all warrants convert within 18 months. The strong promoter group participation signals insider confidence, while marquee institutional names like PSP Investments lend credibility. Shareholders should vote on or before January 21, 2026, and assess the post-issue shareholding impact once the full notice is reviewed.