Themis Medicare Limited has withdrawn its proposed preferential issue of 45,95,795 convertible equity warrants. The company cited that its working capital requirements, which were the primary objective of the issue, have been met through alternative means.

The withdrawal decision was taken on September 24, 2026. The proposal originally involved issuing warrants to a promoter group entity at a price of ₹102.87 per warrant. This action follows earlier intimations dated February 25, 2026, and March 10, 2026, regarding the Board's approval of the same.

Reasons for withdrawal

The company stated that the decision allows it to consider fresh issues in the future with objects as may be necessary or to meet requirements as and when they arise. The original objective of strengthening the working capital position has been achieved without this specific equity-linked instrument.

Themis Medicare had applied for in-principal approval from both BSE Limited and National Stock Exchange of India Limited for the proposed issue. The company confirmed it will withdraw these applications and that all prior disclosures and submissions related to the preferential issue are treated as withdrawn.

Impact on operations

Management clarified that the withdrawal of the proposed issue will not have any adverse impact on the financial position or operations of the company. The move signifies a shift in capital structure strategy rather than a change in operational outlook.

What the numbers show

The withdrawal highlights a divergence between planned external fundraising and actual liquidity management. While the initial plan sought to raise approximately ₹47.28 crore (calculated from 45,95,795 warrants × ₹102.87) via promoter infusion to bolster working capital, the company now indicates these needs are satisfied internally or through other channels. This suggests improved cash flow generation or alternative debt arrangements have rendered the dilutive equity warrant issuance unnecessary.

Themis Medicare has fixed September 23, 2026, as the record date for determining shareholder eligibility for the final dividend for the financial year ended March 31, 2026.

The Board of Directors approved the record date in its meeting held on September 18, 2026. The actual dividend payout remains subject to approval by members at the company’s 56th Annual General Meeting (AGM), scheduled for September 30, 2026.

Regulatory Disclosure

The company made the disclosure pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was issued by the Corporate Relationship Department to the listing exchanges.

Dinesh S. Patel, Chairman and Director of Themis Medicare Limited, signed the communication.