Outcome of the Board meeting held on 3rd April 2025. Kindly ignore previous announcement.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Indrayani Biotech's board approved amending its earlier rights issue plan (originally cleared on November 14, 2024) to issue partly paid-up equity shares instead of fully paid-up shares, raising up to Rs 49.90 Crores from existing shareholders. A Rights Issue Committee has been set up to decide the issue price, entitlement ratio, record date, and other terms. In a separate change, CFO Vinayaka Bodala resigned citing personal reasons, effective April 3, 2025, and Dhinakaran Rajagopal (with 34 years of experience across Infosys, BHEL, and Indian Oil Corporation) has been appointed as the new CFO from the same date. The trading window for insiders remains closed until 48 hours after the Q4/FY25 financial results are announced.
Shareholders should expect a rights issue worth up to Rs 49.90 Crores in the coming weeks, which may require additional capital from them depending on the entitlement ratio and discount. The CFO transition is a routine leadership change but worth monitoring for any strategic shifts in financial policy.