The Board of Directors of the Company approved a Resolution passed by Circulation on July 28, 2026, with the final majority vote received by 08:00 PM on that date. The resolution was to not subscribe to the Rights Issue offered by its subsidiary.
The subscription period for the Rights Issue was open from July 14, 2026, to July 28, 2026. Due to the company's non-participation and the subsequent allotment of shares to other investors, the company's equity stake in the subsidiary will be diluted by 2.18%.
Details as per SEBI Circular
| Particulars | Details |
| Name of the subsidiary | Natural Biogenex Private Limited |
| Turnover (last financial year) | ₹13.43 Crore |
| Net Worth (last financial year) | ₹81.24 Crore |
| Profit/Loss (last financial year) | Loss of ₹43.30 Crore |
| Related Party Transaction | No. The non-participation is not a transaction with a related party. |
| Shareholding prior to Rights Issue | 1,99,99,996 Equity Shares, representing 68.96% of the paid-up capital. |
| Shareholding post Rights Issue | 1,99,99,996 Equity Shares, representing 66.78% of the revised paid-up capital. |
| Status post-dilution | The entity remains a Subsidiary of the Company. |
| Reason for non-participation | Strategic allocation of funds to other business matters. |
The document was signed by Akshay Dutta, Company Secretary and Compliance Officer (Membership No. A80481), from Bangalore.