Novelix Pharmaceuticals Allots Shares, Announces Director Resignation
Novelix Pharmaceuticals Ltd. announced the allotment of 11,50,000 equity shares following the conversion of warrants. The company received Rs. 1,72,50,000.00 from the allotment, which represents 75% of the issue price per share. This conversion increases the company’s paid-up equity capital from Rs. 1,99,35,000.00 to Rs. 2,10,85,000.00. The shares were allotted to SRINIDHI FINE-CHEMICALS LLP (11,00,000 shares) and NARAHARI BELIDE (50,000 shares). The issue price was Rs. 20 per share, with a face value of Rs. 10 each.The company also announced the resignation of Mr. Jivamohan Divakar Valluri (DIN: 09218013) as a Non-Executive Director, effective March 30, 2026, due to pre-occupation and other personal commitments. Mr. Valluri will also step down from his positions as a member of the Audit Committee, Nomination & Remuneration Committee, and as Chairperson of the Stakeholders’ Relationship Committee.
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