Pursuant to our prior intimation dated April 15, 2026 and deferment intimation dated April 20, 2026, and in terms of Regulation 30 of the Securities and Exchange Board of India (Listing ....
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iSERA Lifesciences Limited's Board approved acquiring 100% of iSERA Biological Limited through an all-share swap, with iSERA Biological becoming a wholly owned subsidiary. The deal is valued at Rs. 78.00 crore, to be discharged by issuing 1.61 crore new equity shares at Rs. 48.20 per share (1:1 swap ratio, floor price Rs. 48.15). The transaction is a related party deal since promoters of iSERA Lifesciences are also shareholders/directors of iSERA Biological. iSERA Biological had FY25 turnover of Rs. 18.36 crore (up from Rs. 7.41 crore in FY23) and EBITDA of Rs. 7.67 crore, in the pharmaceutical and life sciences sector. The Board also approved raising authorised share capital from Rs. 11 crore to Rs. 25 crore, adopting new MOA/AOA aligned with the Companies Act 2013, and enhancing Section 186 investment/loan limits to Rs. 1,000 crore. All key approvals are subject to shareholder consent via postal ballot.
Existing shareholders will face significant dilution as 1.61 crore new shares will be issued (nearly tripling the current equity base of ~84 lakh shares). The acquisition adds a revenue-generating pharma/biotech subsidiary but is a related party transaction involving promoters, requiring special resolution approval from non-interested shareholders. Stock could see pressure given the stock is infrequently traded on BSE, and the preferential issue price of Rs. 48.20 is the implied reference price for shareholders.