Zenith Drugs sets July 23 EGM for ₹6.99 crore warrants
Zenith Drugs Limited has fixed July 23, 2026, as the date for its Extraordinary General Meeting (EGM) to approve the preferential allotment of warrants to promoters, aiming to raise ₹6.99 crore. The company published advertisements in newspapers and opened remote e-voting from July 20 to July 22, 2026, with a record date of July 16, 2026. The allotment will increase promoter holding to 67.18%.
*this image is generated using AI for illustrative purposes only.
Zenith Drugs Limited has scheduled an Extraordinary General Meeting (EGM) on July 23, 2026, to seek shareholder approval for the preferential allotment of warrants to promoters. The meeting, to be held via video conferencing at 02:00 PM, aims to raise a maximum amount of ₹6,99,93,675 through the issuance of up to 16,09,050 warrants. This capital raising initiative will increase the total promoter holding from 64.08% to 67.18% upon full conversion of the warrants into equity shares.
The warrants are priced at ₹43.50 each, comprising a face value of ₹10 and a premium of ₹33.50, and are convertible into equity shares within 18 months of allotment. The issuance will be conducted on a private placement basis in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The relevant date for pricing determination was June 23, 2026.
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has intimated the exchanges regarding the publication of newspaper advertisements for the EGM notice. The advertisements were published in The Times of India (English) and Choutha Sansar (Hindi) to inform members about the meeting and the e-voting process.
The facility for remote e-voting will be available from 09:00 AM on July 20, 2026, until 05:00 PM on July 22, 2026. The cut-off date to determine eligibility for casting votes is July 16, 2026. Shareholders who have not cast their votes remotely and are present at the EGM will be eligible to vote through e-voting during the meeting. The e-voting facility is being provided by Bigshare Services Private Limited.
The board also appointed Mr. Shubham Jain, Partner at G&J Associates, as the scrutinizer for the E-Voting process. The three proposed allottees are all categorized as promoters: Ajay Singh Dassundi, Sandeep Bhardwaj, and Bhupesh Soni. Warrant holders are required to pay 25% of the issue price at the time of subscription, with the remaining 75% payable upon exercise of the warrants.
| Name of the Proposed Allottee | No. of Convertible Warrants | Pre-Issue Holding (%) | Post-Issue Holding (%) |
|---|---|---|---|
| AJAY SINGH DASSUNDI | 5,36,350 | 22.52% | 23.44% |
| SANDEEP BHARDWAJ | 5,36,350 | 21.38% | 22.40% |
| BHUPESH SONI | 5,36,350 | 20.18% | 21.34% |
| Total | 16,09,050 | 64.08% | 67.18% |
Historical Stock Returns for Zenith Drugs
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.59% | +10.59% | +22.08% | +0.10% | -30.12% | -51.36% |
How does Zenith Drugs plan to utilize the approximately ₹7 crore raised through this warrant issuance?
What impact will the increased promoter holding to 67.18% have on the company's corporate governance standards and minority shareholder interests?
Is there a risk of promoter pledge increasing in the future given the capital infusion into promoter holdings?
16
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
