Announcement with regard to Appointment of Dhinakaran Rajagopal, as Chief Financial Officer of the Company, with effect from 3rd April 2025.
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Indrayani Biotech's board approved changing its earlier approved Rights Issue from fully paid-up equity shares to partly paid-up equity shares, raising up to Rs 49.90 Crores from existing shareholders. Separately, Chief Financial Officer Vinayaka Bodala resigned for personal reasons (relieved effective April 3, 2025), and Dhinakaran Rajagopal was appointed as the new CFO with effect from the same date. Rajagopal has been with the company since 2021 as Chief Coordination Officer and brings 34 years of experience, including prior stints at Infosys, BHEL, and Indian Oil Corporation. A Rights Issue Committee has been set up to finalize terms like issue price, ratio, and record date. The trading window remains closed until 48 hours after Q4 FY25 results are announced.
Shareholders will see a partly paid-up Rights Issue of up to Rs 49.90 Crores, which means they will need to fund the balance later but face lower immediate cash outflow. The CFO transition is a routine change with an internal candidate taking over, reducing execution risk. Investors should watch for the Rights Issue terms and record date, which could create short-term stock volatility.