Submission of outcome of Board Meeting.
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Novelix Pharmaceuticals' board, at its meeting on March 30, 2026, approved the allotment of 11,50,000 equity shares (face value Rs. 10) at Rs. 20 per share (including a Rs. 10 premium) upon conversion of warrants held by promoter group entities. The allottees are Srinidhi Fine-Chemicals LLP (11,00,000 shares) and Narahari Belide (50,000 shares). The company received Rs. 1.72 crore as the remaining 75% of the issue price. Post-allotment, paid-up equity capital rose from Rs. 1.99 crore to Rs. 2.11 crore (2,10,85,000 shares). Additionally, Non-Executive Director Mr. Jivamohan Divakar Valluri resigned effective March 30, 2026, citing personal commitments, and will also step down from the Audit, Nomination & Remuneration, and Stakeholders' Relationship Committees.
The warrant conversion is promoter-driven and dilutes existing shareholders modestly, with paid-up capital increasing by about 5.8%. The director resignation is a routine governance change with no stated material concerns, so impact on the stock is likely neutral to mildly positive (promoter capital infusion).