Zenith Drugs Limited Approves Re-designation of Director and Allots Convertible Warrants
Zenith Drugs Limited, in a board meeting held on August 26, 2026, approved the re-designation of an existing director and ratified the allotment of 1,609,050 convertible warrants through a preferential private placement.The company’s board meeting addressed two key corporate matters: the change in designation of Mr. Ajay Singh Dassundi, and the allocation of convertible warrants to promoter category individuals.
Re-designation of Mr. Ajay Singh Dassundi
The Board of Directors considered and approved the re-designation of Mr. Ajay Singh Dassundi. He has been redesignated from Executive Director to Non-Executive (Non-Independent) Director of the Company. This change is effective from August 27, 2026.Mr. Ajay Singh Dassundi remains a Director of the Company in the capacity of Non-Executive (Non-Independent) Director. He holds a significant stake in the company, with 3,861,990 shares, representing 22.52% of the shareholding.
Allotment of Convertible Warrants
The company approved the allotment of 1,609,050 convertible warrants in continuation of earlier communications regarding the shareholders' approval and the In-principle approval received from The National Stock Exchange of India Limited for the issuance and allotment of the warrants.The Board considered and approved the allotment after receiving Rs. 1,74,98,421/- from the allottees, which constitutes 25% of the aggregate consideration payable towards the subscription of the warrants.
These warrants are convertible into Equity Shares of Rs. 10/- each. The issue price for the warrants was set at Rs. 43.50/- per warrant, which includes a premium of Rs. 33.50/-. The total aggregate consideration for the warrants is up to Rs. 6,99,93,675/-.
The allotment was made to three individuals belonging to the Promoter Category.
Promoter Allotment Details
The details of the allotment and the corresponding shareholding percentages for the proposed allottees are provided below:| Proposed Allottee | Category | No. of Convertible Warrants | Pre-preferential Issue Shareholding | % of Pre Issue Holding | Post-preferential Issue Shareholding | % of Post Issue Holding |
|---|---|---|---|---|---|---|
| AJAY SINGH DASSUNDI | Promoter | 5,36,350 | 38,61,990 | 22.52% | 43,98,340 | 23.44% |
| SANDEEP BHARDWAJ | Promoter | 5,36,350 | 36,66,990 | 21.38% | 42,03,340 | 22.40% |
| BHUPESH SONI | Promoter | 5,36,350 | 34,60,980 | 20.18% | 39,97,330 | 21.31% |
| Total | 16,09,050 | 1,09,89,960 | 64.08% | 1,25,99,010 | 67.16% |
ZENITHDRUG Stock Price Movement
As of 1:28 PM, shares of Zenith Drugs Limited are slipping by 0.37% in live trading, currently valued at ₹40.85. The stock has seen a modest traded volume of 2,400 shares during the session so far.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.