Allotment of 1,61,82,800 Equity Shares at Rs. 48.20 via Share Swap with iSERA Biological

The Board on October 01, 2026 approved allotment of 1,61,82,800 equity shares of face value Rs. 10/- each at an issue price of Rs. 48.20/- per share (share premium Rs. 38.20/- per share).

Thu 1 Oct 2026

Shares Allotted

1,61,82,800 equity shares

Issue Price

Rs. 48.20/- per share

Share Premium

Rs. 38.20/- per share

Pre-issue Paid-up Capital

84,08,972 shares

Post-issue Paid-up Capital

2,45,91,772 shares

What was approved

The Board, at its meeting held on October 01, 2026, approved the allotment of 1,61,82,800 fully paid-up equity shares of face value Rs. 10/- each at an issue price of Rs. 48.20/- per share, which includes a share premium of Rs. 38.20/- per share.

The issue is on a preferential basis by way of Share Swap at a ratio of 1:1 — one equity share of the Company for every one equity share of iSERA Biological Limited held by the allottee. The consideration is other than cash, i.e. through swap of shares, based on a valuation done by a Registered Valuer.

How it got here

• The Board approved the issuance by way of Share Swap at its meeting on April 21, 2026.
• Shareholders approved it through Postal Ballot / Remote E-Voting, results declared on May 21, 2026.
• BSE Limited granted In-Principle Approval by letter dated September 18, 2026.

Effect on share capital

• Pre-issue paid-up equity share capital: 84,08,972 shares
• Shares allotted on preferential basis (Share Swap): 1,61,82,800 shares
• Post-issue paid-up equity share capital: 2,45,91,772 shares

The newly allotted shares rank pari-passu with existing equity shares in all respects, and the allotment has been made in dematerialised form.

Who received shares

Allottees belong to the Promoter, Promoter Group and Non-Promoter categories. Among Promoters, the largest allotments were 27,55,000 shares, 11,92,000 shares, 7,85,500 shares and 7,46,000 shares. Non-Promoter allottees include institutional-style names such as a fund receiving 10,00,000 shares and another receiving 4,24,800 shares, alongside a long list of individual and corporate investors with smaller allotments.

What investors may note

Because the shares are issued for consideration other than cash, the Company does not receive fresh money; instead it receives shares of iSERA Biological Limited from the allottees. The share count expands materially, so existing shareholders' proportionate holding reduces, while the Company acquires an interest in iSERA Biological Limited in exchange. The swap price of Rs. 48.20 per share was set on a Registered Valuer's valuation.

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