Board approves allotment of 1,61,82,800 equity shares at Rs. 48.20 each via share swap

Board approved allotment of 1,61,82,800 equity shares of Rs. 10 face value at an issue price of Rs. 48.20 per share (premium Rs. 38.20) on a preferential basis.

Thu 1 Oct 2026

Shares Allotted

1,61,82,800 equity shares

Issue Price

Rs. 48.20 per share

Face Value

Rs. 10 per share

Share Premium

Rs. 38.20 per share

Post-Issue Paid-up Capital

2,45,91,772 shares (from 84,08,972 shares)

What was approved

The Board, at its meeting 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.

How it is being paid for

The issue is on a preferential basis by way of Share Swap and is for consideration other than cash. The swap ratio is 1:1 — one equity share of the Company for every one equity share of iSERA Biological Limited held by the allottee. The issue price is based on a valuation by a Registered Valuer, under Chapter V of the SEBI ICDR Regulations.

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 new shares are almost double the existing capital, so the proportionate holding of existing shareholders reduces. The new shares rank pari-passu with existing equity shares and have been allotted in dematerialised form.

Who gets the shares

There are 196 allottees across Promoter, Promoter Group and Non-Promoter categories. The largest promoter allotments include Shubhangi Dhanraj Garad at 27,55,000 shares and Sumeet Dhanraj Garad at 11,92,000 shares. Among non-promoters, Nav Capital VCC - Nav Capital Emerging Star Fund receives 10,00,000 shares and M7 Global Fund PCC - Cell Dewcap Fund 4,24,800 shares.

Approval trail

• Board first approved the preferential issue on April 21, 2026
• Shareholders approved by Postal Ballot / Remote E-Voting, results declared May 21, 2026
• BSE granted In-Principle Approval by letter dated September 18, 2026

What investors may watch

This step brings shareholders of iSERA Biological Limited onto the Company's shareholder register in exchange for their shares in that company. Investors may track how the shareholding pattern looks after allotment and the resulting promoter holding, along with the Company's subsequent disclosures on the combined business.

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