Granules India board has approved a comprehensive fundraising strategy worth ₹1,762.50 crores through preferential allotment of convertible warrants and equity shares, following a board meeting held on December 23, 2025.

Convertible Warrants Issuance Details

The board has approved the issuance of up to 2.50 crore convertible warrants at ₹585.00 per warrant, targeting both promoter group and non-promoter investor categories. The warrants are convertible into equivalent equity shares within 18 months from allotment date.

Equity Shares Component

The company will also issue 51.28 lakh fully paid-up equity shares exclusively to non-promoter investors at ₹585.00 per share, raising ₹300 crores.

Investor Allocation Breakdown

The convertible warrants will be allocated among five investors, with promoter group members receiving the majority allocation:

The equity shares will be distributed among nine institutional investors including 360 ONE Equity Opportunity Fund, Public Sector Pension Investment Board, and other fund houses.

EGM and Regulatory Approvals

Granules India has scheduled an Extraordinary General Meeting for January 22, 2026, to be conducted through video conferencing for obtaining shareholder approval. The relevant date for the preferential issue under SEBI ICDR Regulations is December 23, 2025.

The fundraising initiative is subject to regulatory approvals and shareholder consent, representing a strategic capital raising approach combining multiple instruments to strengthen the pharmaceutical company's financial position.

Granules India Limited announced that its wholly owned subsidiary Granules Pharmaceuticals Inc. has received tentative approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for Amphetamine Extended-Release Orally Disintegrating Tablets. This development marks a significant milestone in the company's expansion into the central nervous system therapeutic area.

FDA Approval Details

The tentative approval covers six different strengths of the medication, positioning it as the generic equivalent of ADZENYS XR-ODT. The approved product will be manufactured at Granules' U.S.-based facility located in Chantilly, Virginia, demonstrating the company's commitment to maintaining high-quality manufacturing standards in regulated markets.

Market Opportunity and Competitive Landscape

The product is indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD) and targets an estimated market size of approximately USD 172.00 million according to IQVIA (IMS Health). The current market dynamics present a favorable opportunity for Granules, as there is currently only one approved generic and one authorized generic in this therapeutic segment. This limited competition positions the company advantageously to expand patient access to this critical therapy upon commercial launch.

Strategic Significance

Dr. Krishna Prasad Chigurupati, Chairman and Managing Director, emphasized that this tentative approval reaffirms Granules' strategic focus on expanding its portfolio of complex and differentiated generics while strengthening its presence in the central nervous system therapeutic area. He highlighted that ADHD is one of the most commonly diagnosed neurodevelopmental disorders in the United States, impacting hundreds of millions of people worldwide.

Company Portfolio Enhancement

This approval further strengthens Granules' U.S. generics portfolio and underscores the company's continued investments in several key areas. The tentative approval represents another step in Granules India's commitment to improving patient access to essential medications while expanding its footprint in specialized therapeutic areas.

The company's focus on complex generics and differentiated products continues to drive its growth strategy in regulated markets, particularly in the United States where it maintains manufacturing capabilities and regulatory expertise.