Zenith Drugs Limited Board Approves Preferential Allotment of Warrants to Promoter Investors
Zenith Drugs Limited announced that its Board of Directors, in a meeting held on June 26, 2026, approved several key business matters, including the fundraising through the issuance of warrants and the convening of an Extra-Ordinary General Meeting (EGM).The Board decisions focused primarily on raising funds by issuing up to 16,09,050 warrants to specific Promoter Investors on a preferential basis. Each warrant is convertible into one Equity Share of the Face Value of Rs. 10/- (Rupees Ten Only). The issue price for these warrants was set at Rs. 43.50/- per warrant, which includes a premium of Rs. 33.50/-.
The issuance of the up to 16,09,050 warrants is designed to aggregate a maximum amount of Rs. 6,99,93,675/- (Rupees Six Crore Ninety Nine Lakh Ninety Three Thousand Six Hundred Seventy Five Only). The transaction remains subject to necessary approval from regulatory and statutory authorities as well as the members of the Company at the ensuing Extraordinary General Meeting.
A breakdown of the proposed warrant issuance details is provided below:
| Particulars | Details |
|---|---|
| Type of Securities Proposed | Warrants convertible into Equity Shares of Rs. 10/- each (1 equity share for 1 warrant). |
| Type of Issuance | Preferential Issue on a private placement basis. |
| Total Securities/Amount | Up to 16,09,050 Convertible Warrants amounting to up to Rs. 6,99,93,675/- at an issue price of Rs. 43.50/- per warrant. |
| Number of Proposed Allottees | Three (3). |
| Issue Price | Rs. 43.50/- per warrant, including a premium of Rs. 33.50/-. |
Governance Appointments and EGM Convening
In addition to the fundraising authorization, the Board appointed Mr. Shubham Jain, Partner at G&J Associates (a Practicing Company Secretaries Firm), as the Scrutinizer for the E-Voting process intended for the forthcoming Extra Ordinary General Meeting.The EGM of shareholders has been scheduled for Thursday, July 23, 2026, at 02:00 PM. The meeting will be conducted through video conferencing or other audio-visual means to seek approval from members regarding the aforesaid matters.
Promoter Shareholding Details
Details concerning the proposed allotment and the shareholding pattern of the designated Promoters were also presented by the Board. The following table outlines the details of the convertible warrant issuance amongst the three named Promoter allottees:| Name of the Proposed Allottee | No. of Convertible Warrants (Upto) | Category | Pre-preferential Issue Shareholding Percentage | Post-preferential Issue Shareholding Percentage |
|---|---|---|---|---|
| AJAY SINGH DASSUNDI | 5,36,350 | Promoter | 22.52% | 23.44% |
| SANDEEP BHARDWAJ | 5,36,350 | Promoter | 21.38% | 22.40% |
| BHUPESH SONI | 5,36,350 | Promoter | 20.18% | 21.34% |
| Total | 16,09,050 | 64.08% | 67.18% |
Zenith Drugs Limited commenced the Board meeting at 05:30 P.M. and concluded it at 06:12 P.M.
ZENITHDRUG Stock Price Movement
Zenith Drugs Limited shares edged higher on Thursday, settling at ₹46.25 after gaining 2.66% from the previous close. The stock saw a traded volume of 5,600 shares during the session.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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