Gujarat Themis Biosyn board has approved the preferential allotment of 82.11 lakh shares at ₹408 per share, aggregating to ₹335 crore. The move aims to raise capital through a private placement involving five proposed allottees.

Share issuance details

The board-approved share issuance represents a structured capital-raising exercise by Gujarat Themis Biosyn. The following table summarises the key parameters of the proposed issuance:

Proposed allottees

The preferential issue is structured as a private placement under Section 42 and 62 of the Companies Act 2013. The board meeting held on September 1, 2026, approved the allotment to five specific investors. Pharmaceutical Business Group (India) Limited, part of the promoter group, is the largest recipient.

Investors other than the promoter group entity are classified as non-promoter/non-promoter group allottees. The total number of investors capped at five aligns with regulatory limits for private placements.

Regulatory approvals pending

The board's approval marks a formal step in the company's capital mobilisation process. The transaction remains subject to shareholder approval and stock exchange clearances. Further details regarding the allotment timeline and final regulatory filings are subject to disclosures as and when made available.

Gujarat Themis Biosyn has closed its qualified institutional placement (QIP) with an issue price fixed at ₹354 per equity share. The Fund-Raising Committee approved the closure on August 28, 2026, allotting 2,11,86,440 shares to eligible qualified institutional buyers (QIBs), totaling ₹75 crore.

The final issue price incorporates a discount of ₹18.57 per share, or 4.98%, on the previously announced floor price of ₹372.57. This pricing aligns with the maximum 5% discount permitted under Regulation 176(1) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company received application forms and funds in the escrow account from eligible QIBs prior to closing the issue period.

Pricing and Allocation Details

The Board had initially set the floor price at ₹372.57 per equity share during its meeting on August 25, 2026. The final determination of ₹354 per share includes a premium of ₹353 over the face value of ₹1 per share. The Fund-Raising Committee also finalized the allocation note for confirmation to the respective QIBs and adopted the placement document dated August 28, 2026.

Key Allottees

The issuance saw significant participation from mutual funds and insurance companies. Quant Mutual Fund schemes collectively acquired a substantial portion of the issue, with the Quant Small Cap Fund being the largest single allottee. Kotak Mahindra Life Insurance Company Ltd and foreign portfolio investors also secured notable stakes.

Capital Structure Impact

Pursuant to the allotment, the paid-up equity share capital of Gujarat Themis Biosyn stands increased from ₹10,89,65,265 (10,89,65,265 shares) to ₹13,01,51,705 (13,01,51,705 shares). The shareholding pattern before and after the issue will be submitted along with the listing application in the format specified under Regulation 31 of the SEBI Listing Regulations.

Shareholder Approval Context

The QIP proceeds follow the near-unanimous support received from shareholders via postal ballot, which concluded on August 22, 2026. Voting was conducted through remote e-voting on the CDSL platform from July 24 to August 22, 2026. CS Ketan R. Shirwadkar of KRS AND CO. scrutinized the process.

Total votes polled amounted to 77.9 million out of 109.0 million outstanding shares, representing a 71.46% participation rate. Promoter and promoter group shareholders voted unanimously in favor, casting 74.0 million votes.

Trading Window Closure

In compliance with the company’s Code of Conduct for Regulating, Monitoring and Reporting Trading by Designated Persons, the trading window for dealing in Gujarat Themis Biosyn securities remains closed. This restriction applies from August 25, 2026, until 48 hours after the determination of the final issue price. All 'Designated Persons' as defined in the Code are subject to this ban.

The preliminary placement document dated August 25, 2026, and the draft application form were previously filed with the National Stock Exchange of India Limited and BSE Limited. The final placement document is now available on the company’s website.