The Board considered and approved: Alteration of Article 15 of the Articles of Association of the Company. To issue, offer and allot upto 75,00,000 Equity Shares and 50,00,000 Convertible ....
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The Board of Prism Medico and Pharmacy, meeting on February 23, 2026, approved (i) amending Article 15 of the Articles of Association to allow further issuance of securities via preferential offer or private placement, and (ii) a preferential allotment of up to 75,00,000 equity shares and 50,00,000 convertible warrants at Rs. 20 each, aggregating to about Rs. 25 crore (Rs. 15 crore for shares + Rs. 10 crore for warrants). Each warrant is convertible into 1 equity share within 18 months, with 25% payable upfront. Allottees include two existing promoter-group companies (Symbiosis Pharmaceuticals and Galaxy Vitacare) and five non-promoter individuals/entities. Post-allotment, the allottees' aggregate stake would jump from 22.61% to 74.72%, indicating a major change in control/ownership. An Extraordinary General Meeting is scheduled for March 20, 2026 to seek shareholder approval via special resolution.
This preferential issue will significantly dilute existing public shareholders (allottees' combined holding rises from ~23% to ~75%), but brings in Rs. 25 crore of fresh capital. The stock may face short-term pressure due to dilution and likely pricing at SEBI-determined floor price, with shareholder approval and post-issue shareholding concentration being key events to watch.