Dear Sir/Madam, Please find the attached notice of Extraordinary General Meeting scheduled to be held on Friday the 20th day of March, 2026 through Video Conferencing/Other Audio Visual ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Prism Medico and Pharmacy has called an EGM on March 20, 2026 at 1:00 PM via video conferencing to seek shareholder approval for two special resolutions. The first is to amend the Articles of Association by inserting a new Clause 15(d), giving the Board flexibility to issue securities through preferential offers or private placements. The second is to raise up to Rs. 25 crore via a preferential issue: 75 lakh equity shares at Rs. 20 each (Rs. 15 crore including Rs. 10 premium) and 50 lakh convertible warrants at Rs. 20 each (Rs. 10 crore including Rs. 10 premium). Allottees include two promoter-group firms — Symbiosis Pharmaceuticals and Galaxy Vitacare — and five non-promoter individuals/entities, with the relevant pricing date fixed at February 18, 2026. The company plans to use the proceeds mainly for plant and machinery for medicine manufacturing (Rs. 23 crore), purchase of land and building in Sirmaur, Himachal Pradesh (Rs. 1 crore), and general corporate purposes (Rs. 1 crore), with deployment expected over two years.
The preferential issue could dilute existing shareholders by up to 25 crore, though it provides growth capital for manufacturing expansion. Promoter-group entities are participating, which signals promoter confidence, but warrant conversions within 18 months may add further dilution risk. Short-term share price could face pressure due to the issue price and potential dilution, while long-term impact depends on execution of the capacity expansion plan.