Astal Laboratories Authorizes Acquisition Pursuit and Secures Rs 300 Crore Fundraising Mandate

Astal Laboratories Authorizes Acquisition Pursuit and Secures Rs 300 Crore Fundraising Mandate​

Astal Laboratories Ltd., during a board meeting held on June 29, 2026, approved key strategies focused on expanding manufacturing capacity through potential acquisition and secured a mandate to raise up to Rs 300 Crore. These decisions aim to strengthen the company's position in the global pharmaceutical market.

The Board authorized Mr. Sudheer Karna Kankanala, Whole-time Director of the Company, to initiate discussions, evaluate opportunities, and negotiate the proposed acquisition of one or more established pharmaceutical manufacturing units in India. These targeted units must be compliant and approved by USFDA, EU-GMP, or WHO/GMP standards. The objective of this potential acquisition is to boost Astal Laboratories' manufacturing capacity, meet rising order volumes, and enhance its presence globally.

In parallel, the company authorized Mr. Balayogiswara Rao Peddinti, Chief Financial Officer, to engage in discussions and negotiations with various prospective investors and financial institutions. This mandate aims to raise an aggregate amount of up to Rs 300 Crore through private placement or other permissible methods. The fundraising can utilize a combination of instruments, including Compulsorably Convertible Debentures (CCDs), Compulsorably Convertible Preference Shares (CCPS), and Non-Convertible Debentures (NCDs).

The company's board meeting concluded with the review of these strategic mandates, subject to applicable statutory, regulatory, and shareholders' approvals.

Stock Price Movement​

As of 11:08, Astal Laboratories Ltd shares are trading at ₹86.50, ticking down by 1.92%. The equity has moved within a significant intraday range, testing highs near ₹90.00 and lows around ₹85.25.