Fredun Pharmaceuticals allotted 1,82,400 fully paid-up equity shares to 10 non-promoter investors at its board meeting on October 3, 2026, according to a BSE filing. The allotment followed the conversion of 60,800 warrants, with share entitlement adjusted for the company's 1:2 bonus issue.

The warrant holders paid the balance consideration and exercised their conversion rights, the company said. Each allotted equity share has a face value of Rs. 10. Fredun Pharmaceuticals trades on BSE under scrip code 539730.

The bonus adjustment entitled holders to three equity shares for each outstanding warrant. Consequently, the 60,800 warrants covered by this conversion resulted in the allotment of 1,82,400 shares.

Original warrant terms and bonus adjustment

Shareholders approved the preferential warrant issue at an extraordinary general meeting on October 22, 2025. The company subsequently allotted the convertible warrants on December 29, 2025.

  • The original issue price was Rs. 1,250 per warrant.
  • An upfront payment of Rs. 312.50 per warrant represented 25% of the issue price.
  • Following the 1:2 bonus issue, the entitlement attached to outstanding warrants was proportionately adjusted, with the exercise price revised accordingly.

The filing states that the company received the total consideration for the 60,800 warrants now converted. It describes the issuance as a preferential issue under Chapter V of the SEBI Issue of Capital and Disclosure Requirements Regulations, 2018, and other applicable law.

Allottees and rights of the new shares

The 10 non-promoter allottees were Rashmi Jain, Swati Goel, Divya Aggarwal, Reshma M Kukreja, Girdhari T Jaisinghani, Nikhil R Jaisinghani, R. R. Family Trust, Vivek Dhir, Ceramet Consultants Private Limited and Nav Ratan Bhaiya.

The new shares will be issued in dematerialised form and rank pari passu with existing equity shares, carrying equal rights in all respects.

The company submitted the allotment disclosure under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The board meeting began at 4:00 p.m. and concluded at 5:15 p.m. The accompanying disclosure stated that cancellation or termination of the securities issuance proposal was not applicable.