Indrayani Biotech Limited has informed stock exchanges about receiving a significant Income Tax assessment order and its subsequent legal response. The company disclosed this development under SEBI regulations on April 25, 2026.

Income Tax Assessment Details

The company received an Assessment Order dated March 26, 2025, from the Income Tax Department raising a demand of ₹13.90 crores. This assessment pertains to Assessment Year 2023-24 and was passed under Section 143(3) of the Income Tax Act, 1961.

Legal Response and Appeal

Following established procedures under the Income Tax Act, 1961, Indrayani Biotech has formally contested the demand by filing an appeal before the Income Tax Appellate Tribunal (ITAT). The company is currently awaiting the date for the first hearing in this matter.

The opposing party in this litigation is the Income Tax Department, and the case status remains sub-judice with proceedings pending before ITAT.

Financial Impact Assessment

Based on advice from its legal advisors, the company has assessed that:

• The demand is not expected to have any material adverse impact on financial operations
• No immediate cash outflow is anticipated as the matter is under legal proceedings
• The total potential financial implication stands at ₹13.90 crores plus applicable interest

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided detailed information as per SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, covering all aspects of the litigation including the quantum of claims, current status, and management's assessment of the situation.

Indrayani Biotech Limited has officially confirmed April 28, 2026 as the record date for its ₹49.90 crore rights issue following the Rights Issue Committee meeting held on April 09, 2026. The company has formally communicated this decision to BSE Limited under Regulations 30 and 42 of SEBI Listing Regulations, finalizing all critical parameters for the partly paid-up rights issue.

Rights Issue Structure and Pricing

The committee has approved the issuance of 3,25,25,897 partly paid-up equity shares at ₹15 per share when fully paid up, including a premium of ₹5 per share. The rights issue follows a 5:7 entitlement ratio, meaning eligible shareholders will receive 5 rights equity shares for every 7 fully paid-up equity shares held as on the record date.

Payment Structure and Timeline

The partly paid-up structure requires payments in installments, with ₹3.75 payable on application and ₹11.25 through subsequent calls as determined by the Rights Issue Committee.

Issue Timeline and Trading Period

The rights issue will open on Wednesday, May 27, 2026, and close on Thursday, June 25, 2026. The on-market renunciation period will run from May 27 to June 16, 2026, while off-market renunciation must be completed to ensure rights entitlements are credited before the issue closing date.

Share Capital Impact

The rights issue will significantly expand the company's equity base, with outstanding equity shares increasing from 4,55,36,256 shares prior to the rights issue to 7,80,62,153 shares post-issue, assuming full subscription and payment of call monies.

Regulatory Compliance and Service Providers

The Rights Issue Committee meeting commenced at 5:50 PM IST and concluded at 7:15 PM IST on April 09, 2026. The company has appointed India Ratings and Research Private Limited as the monitoring agency and Axis Bank as the banker to the issue. A separate ISIN has been applied for rights entitlements, which will be credited to eligible shareholders' demat accounts through NSDL and CDSL prior to the issue opening date. Additional terms and conditions will be detailed in the Letter of Offer to be filed with SEBI and BSE Limited.