Pursuant to the resolution passed by the Board of Directors of the Company at its meeting held on Tuesday, April 21, 2026, the Company encloses herewith the Postal Ballot Notice dated April ....
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iSERA Lifesciences Limited has issued a Postal Ballot Notice dated April 21, 2026, seeking shareholder approval via remote e-voting (April 22 to May 21, 2026) for seven key resolutions. The main items include: (1) increasing authorised share capital from Rs. 11 crore to Rs. 25 crore (1.1 crore to 2.5 crore equity shares of Rs. 10 each); (2) adopting new Memorandum and Articles of Association; (3) enhancing Section 186 investment/loan limits to Rs. 1,000 crore; and (4) acquiring up to 100% of iSERA Biological Limited for Rs. 78 crore through a 1:1 share swap. The acquisition will be discharged by issuing 1.61 crore new equity shares at Rs. 48.20 each (including a premium of Rs. 38.20) to 196 allottees — shareholders of iSERA Biological Limited — on a preferential basis for non-cash consideration. The floor price of Rs. 48.15 was determined by registered valuers. Upon completion, iSERA Biological will become a wholly owned subsidiary.
This is a non-cash, dilutionary transaction — existing shareholders will see their stake reduced as 1.61 crore new shares (a substantial block relative to the expanded capital base) are issued at a significant premium. The deal transforms the company into a parent of iSERA Biological Limited and signals a strategic pivot into biological/lifesciences operations. Investors should watch the swap valuation closely and monitor post-allotment shareholding patterns once results are announced by May 23, 2026.