The Board of Directors considered and approved the increase in the Authorised Share Capital of the Company from Rs. 11,00,00,000/- (Rupees Eleven Crore Only) divided into 1,10,00,000 (One ....
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iSERA Lifesciences Limited (formerly Covidh Technologies Limited) held a board meeting on April 21, 2026 and approved multiple matters. The company will increase its authorised share capital from Rs. 11 crore to Rs. 25 crore by creating 1.4 crore additional equity shares. The board also approved the acquisition of 100% stake in iSERA Biological Limited through a share swap transaction worth Rs. 78 crore. Under this deal, the company will issue 1.61 crore equity shares at Rs. 48.20 per share (1:1 swap ratio) to the shareholders of iSERA Biological Limited, making it a wholly-owned subsidiary. The transaction is a related party transaction as promoters hold stakes in both companies. iSERA Biological had FY 2024-25 turnover of Rs. 183.6 crore with EBITDA of Rs. 76.7 crore. All approvals are subject to shareholder consent via postal ballot.
The acquisition will lead to significant share dilution as 1.61 crore new shares are issued, potentially reducing per-share earnings. The share swap at near-floor price ensures no cash outflow but increases the total shares outstanding substantially. Existing shareholders face dilution of their stake.