Eiko Lifesciences Limited has completed a significant preferential allotment, with promoter Bhavesh Dhirajlal Tanna disclosing substantial acquisition of shares under SEBI regulations. The company allotted 6,25,000 equity shares and 29,50,000 warrants to promoters and investors, with the Board of Directors approving the allotment on February 24, 2026.

Bhavesh Tanna's Substantial Acquisition

Bhavesh Dhirajlal Tanna, promoter of Eiko Lifesciences Limited, has acquired 4,50,000 equity shares representing 3.14% on non-diluted basis and 2.60% on diluted basis through preferential allotment. The acquisition was made at Rs. 55 per share on February 24, 2026, along with 15,50,000 warrants convertible into equity shares.

Complete Preferential Issue Structure

The total preferential issue comprised 6,25,000 equity shares with a face value of Rs. 10 each at Rs. 55 per share, raising Rs. 3,43,75,000. Additionally, 29,50,000 warrants were allotted, each convertible into one equity share at Rs. 55 per share.

Post-Conversion Holdings and Share Capital Impact

Upon conversion of all warrants, Bhavesh Tanna's aggregate holding would reach 23,90,000 shares, representing 13.82% of the diluted share capital. The company's equity share capital increased from Rs. 13,72,08,540 to Rs. 14,34,58,540 after the preferential allotment.

The disclosure was submitted under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The preferential issue received approval from BSE Limited, and all newly allotted shares rank pari-passu with existing equity shares, ensuring equal rights for all shareholders.

Eiko lifesciences Limited successfully concluded its first Extra-Ordinary General Meeting (EOGM) on January 7, 2026, with shareholders approving two significant special resolutions related to preferential share issuance. The meeting was conducted at 3:00 PM IST through video conferencing in compliance with the Companies Act, 2013 and relevant regulatory circulars.

Meeting Overview and Participation

The EOGM witnessed active participation from shareholders across categories. A total of 21 shareholders attended the meeting through video conferencing, comprising 5 promoters and promoter group members and 16 public shareholders. The company had 3,186 total shareholders on the record date of January 2, 2026.

Voting Process and Timeline

The voting process was conducted through both remote e-voting and e-voting during the meeting. Remote e-voting commenced on January 4, 2026, at 9:00 AM IST and concluded on January 6, 2026, at 5:00 PM IST. Additionally, e-voting facility was provided during the EOGM and extended up to 15 minutes after the meeting's conclusion. The scrutinizer's report was prepared by Shravan A. Gupta, Practicing Company Secretary, who was appointed by the Board of Directors on December 11, 2025.

Resolution 1: Warrant Issuance Approval

The first special resolution for the issuance of 33,00,000 warrants convertible into equity shares on preferential basis received overwhelming support from shareholders.

The resolution was approved with 28 voters supporting and only 1 voter opposing. Notably, 5,148,842 votes from promoters and pre-preferential holders were considered invalid as they were interested parties in the resolution.

Resolution 2: Equity Share Issuance Approval

The second special resolution for the issuance of 6,75,000 equity shares on preferential basis also received strong shareholder approval.

This resolution was supported by 27 voters with 2 voters opposing. Similar to the first resolution, votes from promoters and pre-preferential holders totaling 5,148,842 were treated as invalid due to their interest in the resolution.

Regulatory Compliance and Documentation

The company ensured full compliance with regulatory requirements under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The voting results and scrutinizer's report were submitted to BSE Limited on January 9, 2026, with scrip code 540204. The electronic notice and explanatory statements were distributed to shareholders on December 11, 2025, with appropriate provisions for shareholders without registered email addresses.

Conclusion

Both special resolutions were passed with the requisite majority, enabling Eiko LifeSciences Limited to proceed with its capital raising plans through preferential issuance. The high approval rates of 99.9999% for both resolutions demonstrate strong shareholder confidence in the company's strategic initiatives. The successful conduct of the EOGM through digital means reflects the company's adherence to modern governance practices while maintaining transparency and regulatory compliance.