Announcement with respect to the amendments to the terms of Rights issue of equity shares as partly paid up equity shares instead of fully paid up equity shares, as approved by the Board ....
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Indrayani Biotech's Board approved amending its previously announced Rights Issue, which will now be offered as partly paid-up equity shares (face value Rs. 10 each) instead of fully paid-up shares. The total size of the issue remains unchanged at up to Rs. 49.90 crores, to be offered to existing shareholders. A Rights Issue Committee has been formed to decide the final terms including the issue price, entitlement ratio, and record date. Separately, CFO Vinayaka Bodala resigned for personal reasons effective April 3, 2025, and Dhinakaran Rajagopal (an existing senior employee with 34 years of experience including stints at Infosys, BHEL, and Indian Oil) was appointed as the new CFO on the same date.
The shift to partly paid-up shares lets shareholders subscribe by paying only a portion of the issue price upfront, easing immediate cash outflow but adding uncertainty about future payment calls. The unchanged Rs. 49.90 crore target indicates the company's fund-raising plans remain on track. The simultaneous CFO transition is a routine management change and not expected to materially impact the stock in the short term.