Themis Medicare Limited's Preferential Issue Committee has formally approved the revised pricing for its convertible equity warrants during a meeting held on March 10, 2026. This follows the company's earlier corrigendum to its postal ballot notice dated February 25, 2026, which addressed observations from the National Stock Exchange of India Limited (NSE).

Committee Approves Key Pricing Decisions

The Preferential Issue Committee, constituted by the Board of Directors, transacted several important matters during its March 10 meeting. The committee adopted a modified pricing certificate issued by Mr. Abhishek Wagh, Proprietor of M/s. Abhishek Wagh & Associates, Practicing Company Secretaries, indicating the minimum issue price of Rs. 102.87 per warrant.

Warrant Issue Structure and Terms

The convertible equity warrants are being issued to Vividhmargi Investments Private Limited on a preferential basis, subject to shareholder approval and clearance from BSE Limited and National Stock Exchange of India Limited. The issue represents up to 4.99% of total shareholding, equivalent to 45,95,795 equity shares.

Regulatory Compliance Framework

The pricing determination follows SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, specifically Regulation 164. The revised warrant issue price of Rs. 102.87 represents the 90-day volume weighted average price (VWAP) of the company's equity shares preceding the relevant date, as determined according to regulatory requirements.

The committee's decisions require approval from shareholders through the ongoing postal ballot process, as well as clearance from both BSE Limited and National Stock Exchange of India Limited. The formal committee approval represents a crucial step in the preferential issue process, providing regulatory certainty for the warrant pricing structure.

Next Steps in Approval Process

With the committee's formal approval secured, the company continues its shareholder consultation process. The corrigendum provides a 48-hour window for shareholders to comment on Resolution No. 4 regarding the warrant issuance. Shareholders who have already voted in the postal ballot can modify their votes by contacting the scrutinizer before e-voting concludes on March 27, 2026 at 05:00 p.m.

Themis Medicare Limited's Preferential Issue Committee held a crucial meeting on February 25, 2026, to deliberate on the company's proposed preferential issue of convertible equity warrants. The committee, constituted by the Board of Directors, approved key decisions regarding the allotment and pricing of these financial instruments.

Warrant Allotment Details

The committee approved the allotment of convertible equity warrants to Vividhmargi Investments Private Limited, a decision that builds upon the Board's earlier approval from February 13, 2026. The pricing structure was established based on professional certification and regulatory compliance requirements.

Regulatory Compliance and Pricing

The committee noted the pricing certificate issued by Mr. Abhishek Wagh, Proprietor of M/s. Abhishek Wagh & Associates, Practicing Company Secretaries. This certificate indicated the minimum issue price of Rs. 99.76 in accordance with Regulation 164 of the SEBI (ICDR) Regulations, 2018. The committee subsequently approved rounding up this price to Rs. 100.00 per convertible equity warrant for practical implementation.

Postal Ballot Schedule

The committee approved the Notice of Postal Ballot to seek shareholder approval for the preferential issue. The approval process is subject to consent from both shareholders and stock exchanges, reflecting the company's commitment to regulatory compliance.

Corporate Governance Framework

The meeting was conducted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's adherence to disclosure requirements. Chairman and Director Dinesh S. Patel signed the disclosure document, ensuring proper authorization and accountability in the decision-making process.

This preferential issue represents a significant corporate action for Themis Medicare Limited, requiring comprehensive stakeholder approval before implementation. The structured approach to pricing, allotment, and approval processes reflects the company's commitment to regulatory compliance and transparent corporate governance practices.