Board approves Rs 137.2 crore preferential warrants to promoter entity
INDSWFTLAB · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ind-Swift Laboratories board approved issuing up to 70 lakh fully convertible warrants to Essix Biosciences Limited, a promoter group entity, at Rs 196 per warrant, totaling up to Rs 137.20 crore. Each warrant converts to one equity share of Rs 10 face value within 18 months from allotment. Issue is on preferential basis for cash, subject to shareholder and regulatory approvals. EGM scheduled for August 5, 2026 to seek member approval. Board also approved substituting Article 76 of AOA relating to director rotation and appointed scrutinizer for e-voting.
Promoter group infusion of up to Rs 137.20 crore signals confidence but will dilute equity upon warrant conversion. Pending shareholder nod.