Outcome of Rights Issue Committee meeting held on 11th April 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Rights Issue Committee of Indrayani Biotech met on April 11, 2025, and approved the Draft Letter of Offer for a rights issue of partly paid-up equity shares of Rs. 10 each to existing eligible shareholders. The total amount to be raised will not exceed Rs. 49.90 crores, with the final price, ratio, and record date yet to be decided by the Board or Committee. The DLOF will now be submitted to BSE for in-principle approval, subject to SEBI ICDR and LODR Regulations and the Companies Act, 2013.
Shareholders will get the opportunity to subscribe to additional shares in proportion to their existing holdings, which could dilute their stake if they do not participate. The fund raise of up to Rs. 49.90 crores may strengthen the company's capital base but final terms (price and ratio) are still pending.