Novelix Pharmaceuticals Announces Plan for Preferential Issue of 12 Lakh Equity Shares to Raise Capital
Novelix Pharmaceuticals Ltd., formerly known as TRIITURTHI LIMITED, has announced a plan approved by its Board of Directors to issue and allot equity shares on a preferential basis. The issuance is aimed at raising additional capital through the sale of 12,00,000 equity shares to non-promoters.The Board meeting, held on June 4, 2026, approved the decision, which remains subject to the approval of members during an Extraordinary General Meeting (EGM) and other appropriate authorities. The company intends to issue these shares at a price of Rs. 571 each. These shares carry a face value of Rs. 10/- per share and are issued at a premium of Rs. 47/- per share. This transaction is projected to raise a total amount of Rs. 6,84,00,000.00.
The proposed issuance covers the following details:
| Particulars | Details |
|---|---|
| Type of Securities | Equity Shares |
| Issue Type | Preferential Allotment |
| Total Securities | 12,00,000 Equity Shares |
| Issue Price | Rs. 571 per share |
| Face Value | Rs. 10/- per share |
| Premium | Rs. 47/- per share |
| Aggregate Amount | Rs. 6,84,00,000.00 |
Investor Allocation Details
The company has identified several investors for the allotment of the equity shares. The details of the investors and their category are as follows:| Investors' Names | Category (Promoter/Public) |
|---|---|
| PALAKURTHI RAKESH, RAHUL INNANI, SUMAN RAJIV BIHANI, VEDANT RAJIV BIHANI, VIJAYA SURESH, PRASANTH SOVR'MITHRY BRUNDAVANAM, T PRAVEEN KUMAR | Public |
| CANCADTIAR, BELIDE VIJAYALAKSHMI, VENKATRAMANA | Public |
| MANUSANI JALAJA LAXMI, PALLAPOTHU SIVAKRISHNA | Not specified |
Extraordinary General Meeting Details
To transact the matter of the preferential allotment, an Extraordinary General Meeting (EGM) has been scheduled. The EGM is slated for Wednesday, July 1, 2026, at 03:30 P.M., which will be conducted via Video Conferencing or other Audio-Visual Means (OAVM).The scrutiny of the process will be handled by M/s. Bharat Khaniwal, a practicing Company Secretary appointed for the EGM. The cut-off date for determining eligibility to vote by electronic means for this EGM is Wednesday, June 24, 2026.
Stock Price Movement
Novelix Pharmaceuticals Ltd settled at ₹59.62 on Thursday, surging 9.68% in post-market trading. The shares moved within an intraday range established between a low of ₹56.30 and a high of ₹60.00.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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