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Medicamen Biotech Approves Major Capital Raise via Allotment of Shares and Warrants at ₹530 Each

Updated: April 24, 2025 22:00

Image Source: EquityBulls
Medicamen Biotech Ltd has announced a significant capital infusion through the preferential allotment of equity shares and fully convertible warrants, both priced at ₹530 each, as approved by its Board of Directors on February 26, 2025.
 
Key Highlights:
  • The Board approved the preferential allotment of up to 13,00,000 equity shares of face value ₹10 each at an issue price of ₹530 per share, aggregating up to ₹68.9 crore, to select non-promoter investors. Notable allottees include Veralogix Holdings (PTY) Ltd, Ginnerup Capital APS, Eric Aarestrup Sorensen, and Ritesh Kantilal Oswal.
  • Separately, the Board has also approved the issue and allotment of up to 6,55,000 fully convertible warrants at ₹530 per warrant, aggregating up to ₹34.71 crore. These warrants are convertible into equivalent equity shares within 18 months, with an upfront payment of 25% and the balance payable upon conversion.
  • The warrants are being allotted to both promoter group (Shivalik Rasayan Limited) and non-promoter investors, further strengthening the company’s capital structure.
  • The preferential allotment is subject to shareholder and regulatory approvals, with an Extraordinary General Meeting scheduled for March 26, 2025, to seek member consent.
  • The capital raised will support Medicamen Biotech’s growth plans, including expansion initiatives and working capital requirements.
The move is expected to enhance the company’s financial flexibility and market position in the pharmaceutical sector.
 
Source: NSE Corporate Filings

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