Gujarat Themis Biosyn has provided additional regulatory disclosures regarding its proposed preferential issue of up to 82.10 lakh equity shares at Rs 408 per share. The company clarified the 12-month timeline for fund utilization and identified the Ultimate Beneficial Owners for the three allottee funds. This follows stock exchange inquiries and confirms compliance with SEBI (ICDR) regulations as previously approved by shareholders.
Gujarat Themis Biosyn Clarifies Preferential Issue Disclosures
Issue Price: Rs 408 per share | Proposed Issue Size: 82,10,786 shares
Reader Takeaway: Disclosures confirm regulatory compliance and clarity on beneficial ownership for upcoming preferential share allotment.
What just happened
Gujarat Themis Biosyn Limited has submitted supplementary disclosures to the stock exchanges concerning its previously announced preferential issue. This move follows standard inquiries from regulators regarding the company's application for in-principle approval. The company confirmed that these updates are strictly for clarification and do not change any material terms of the issue approved by shareholders during the Annual General Meeting held on September 30, 2026.
Key Clarifications Provided
The company addressed two primary areas of interest for regulators and investors:
- Utilization Timeline: The management specified that the 12-month period for deploying funds raised through the preferential issue will commence from the actual date of share allotment.
- Ultimate Beneficial Owners (UBOs): The firm formally disclosed the individuals behind the three investing entities. For India Special Assets Fund III and ISAF III Onshore Fund, the UBOs are Mr. Amit Agarwal, Mr. Navin Sambtani, and Mr. Kriti Ghosh. For Special Situation India Fund, the identified UBOs are Mr. Srinath Narasimhan, Mr. Pankaj Kalra, and Mr. Jigar Karania.
Regulatory Compliance
To ensure complete transparency, the company has officially filed a compliance certificate from a Practicing Company Secretary. This certificate affirms that the preferential issue strictly adheres to Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. This documentation was referenced in the original AGM notice and now stands formally verified with the exchanges.
What to track next
Investors should monitor the official allotment date, as this triggers the 12-month window for fund utilization. These regulatory filings indicate the company is moving toward final approval for the share issuance.