Fredun Pharmaceuticals Limited has completed the allotment of equity shares following the conversion of convertible warrants previously issued on a preferential basis.

Background and Approval

The Board of Directors had allotted convertible warrants on a preferential basis to allottees on December 29, 2025, pursuant to shareholder approval obtained in an Extra-Ordinary General Meeting held on October 22, 2025.

Conversion Trigger

Warrant holders paid the balance consideration and applied for exercising their rights for conversion of 1,20,533 warrants into 3,61,599 equity shares.

Allotment Details

The Board of Directors in its meeting held on September 16, 2026 (commencing at 06:00 p.m. and concluding at 08:00 p.m.) allotted 3,61,599 equity shares of face value ₹10 each to warrant holders as per the following breakdown:

  • Alchemy Capital Management Pvt Ltd (Non-Promoter): 24,000 warrants converted to 72,000 equity shares
  • Alchemy Long Term Ventures Fund, Series 2 (Non-Promoter): 32,000 warrants converted to 96,000 equity shares
  • Ajay Kumar Aggarwal (Non-Promoter): 32,000 warrants converted to 96,000 equity shares
  • Sweta Chokhany (Promoter): 4,000 warrants converted to 12,000 equity shares
  • Vartika Chokhany (Non-Promoter): 4,000 warrants converted to 12,000 equity shares
  • Vivek Dhir (Non-Promoter): 8,000 warrants converted to 24,000 equity shares
  • Ceramet Consultants Private Limited (Promoter): 4,000 warrants converted to 12,000 equity shares
  • Nav Ratan Bhaiya (Non-Promoter): 4,000 warrants converted to 12,000 equity shares

Total: 1,20,533 warrants converted to 3,61,599 equity shares with 7,467 warrants remaining outstanding for conversion.

Bonus Issue Adjustment

The Company's 1:2 Bonus Issue resulted in proportionate adjustment of warrant entitlements. Each warrant now carries the right to three equity shares instead of one, with the exercise price revised accordingly.

Financial Terms

Warrants were originally allotted at an issue price of ₹1,250 per warrant, with ₹312.50 (25% of issue price) payable upfront. The balance consideration has now been paid in full for the converted warrants.

Share Characteristics

The allotted equity shares will be issued in dematerialized form and shall rank pari passu with the existing equity shares of the Company in all respects.