Granules India Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on January 22, 2026
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Granules India has issued a corrigendum to its EGM notice originally dispatched on December 31, 2025, following observations from NSE and BSE stock exchanges. The changes relate to a proposed preferential issue of convertible warrants and equity shares. One proposed allottee, 'Public Sector Pension Investment Board', has been removed and its shares reallocated among the remaining 8 allottees (all non-promoter entities, mostly 360 One group funds), with the total issue size unchanged at 51,28,205 equity shares. The use of proceeds has been detailed: the first item involves ~Rs. 1,462.5 crore for capital expenditure (Rs. 300 cr), operating expenses (Rs. 300 cr), investment in subsidiary Granules Life Sciences (Rs. 175 cr), vendor payments (Rs. 350 cr), and general corporate purposes (Rs. 337.5 cr). The second item involves ~Rs. 300 crore for subsidiary investment and general corporate purposes. India Ratings & Research has been appointed as the monitoring agency for the issue.
This is a procedural correction to the EGM notice and does not change the size of the fundraise, so the direct impact on shareholders is limited. Investors should note the dilution from the preferential issue to non-promoter institutional investors and the earmarked use of proceeds, which includes significant investment in the wholly-owned subsidiary Granules Life Sciences.