Novelix Pharmaceuticals schedules EGM to raise ₹6.84 crore
Novelix Pharmaceuticals Limited is seeking shareholder approval to raise ₹6.84 crore through the preferential allotment of 12,00,000 equity shares at ₹57 per share. The funds will be used for technology transfer, land development, and equipment acquisition. An EGM is scheduled for July 1, 2026, with remote e-voting open from June 28 to June 30.
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Novelix Pharmaceuticals Limited has scheduled an Extra Ordinary General Meeting (EGM) on July 1, 2026, to seek shareholder approval for the preferential allotment of 12,00,000 equity shares to non-promoters, aiming to raise ₹6.84 crore. The issuance, priced at ₹57 per share including a premium of ₹47, is intended to bolster financial resources for specific growth initiatives including lab-scale technology transfer, land development, and the acquisition of quality control equipment. The board approved the proposal at a meeting held on June 4, 2026, and the company has fixed June 24, 2026, as the record date to determine shareholder eligibility for the meeting.
The proposed allotment targets 18 specific investors identified as public shareholders and complies with Section 42 and 62 of the Companies Act, 2013, along with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Venkateshwarlu Pulluru, Whole-time Director, signed the regulatory filing submitted to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The special resolution authorizes the board to complete the allotment within 15 days of the meeting, subject to necessary regulatory approvals.
Preferential Allotment Details
The breakdown of the proposed issuance to non-promoters is detailed below:
| Particulars | Details |
|---|---|
| Total Number of Shares | 12,00,000 Equity Shares |
| Issue Price | ₹57 per share (Face Value ₹10 + Premium ₹47) |
| Total Issue Size | ₹6,84,00,000 |
| Number of Investors | 18 |
| Investor Category | Non-Promoters (Public) |
Utilization of Proceeds
The company plans to deploy the funds towards specific operational and developmental needs. The estimated utilization is as follows:
| Particulars | Amount (₹ in Lakhs) |
|---|---|
| Lab Scale Tech Transfer Fee to GMBU, Germany | 75.00 |
| Deposit For Land Lease | 100.00 |
| Land Development | 188.00 |
| Consumables | 100.00 |
| Pre Operative Expenses | 125.00 |
| Quality Control Equipments | 61.00 |
| Travelling & Accommodation of German Tech | 35.00 |
| Total | 684.00 |
EGM and Voting Schedule
The EGM is scheduled for July 1, 2026, at 3:30 PM via video conferencing. Remote e-voting facilities will be available to eligible shareholders from June 28 at 9:00 am to June 30 at 5:00 pm. The voting rights shall be reckoned based on the paid-up value of shares held as on the cut-off date of June 24, 2026. The company has appointed Mr. Bharat Khaniwal, Practicing Company Secretary, as the scrutinizer for the e-voting process.
Historical Stock Returns for Trimurthi
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.15% | -11.01% | +0.95% | +18.15% | +58.76% | +801.28% |
How will the technology transfer from GMBU, Germany impact Novelix's product pipeline and competitive positioning?
What is the expected timeline for the land development and when will the new facilities become operational?
Will the company need to raise additional capital beyond this ₹6.84 crore to fully fund its expansion strategy?
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