Key Decision
Board of Directors of PI Industries Limited at its meeting held on June 23, 2026 approved the exercise of the Company's contractual right to convert Unlisted, Unsecured Optionally Fully Convertible Debentures (OFCDs) held in PI Health Sciences Limited (PIHS), a wholly owned subsidiary.
Conversion Details
- OFCD Details: Face value Rs. 70/- each, aggregating to Rs. 70,000,000,000/- (Rupees Ten Thousand Million Only)
- Conversion Terms: Into 72,46,37,687 fully paid-up equity shares of face value Rs. 70.00/- each
- Conversion Price: Rs. 73.80 per share (fair value based on valuation report from an independent registered valuer)
- Allotment: To be made by PIHS
- Ranking: The converted equity shares shall rank pari passu with existing equity shares of PIHS in all respects
Financial Impact
- No cash consideration or share swap involved
- No change in ownership or control of PIHS (remains wholly owned subsidiary)
- Strengthens the consolidated balance sheet of the Company and its subsidiaries
Subsidiary Information (PI Health Sciences Limited)
- Status: Wholly owned subsidiary of PI Industries Limited
- Industry: Pharma - Contract Research Development and Manufacturing Organisation (CRDMO)
- Paid-Up Share Capital: Rs. 4,40,99,99,460/- comprised of 4,40,99,99,46 equity shares of Rs. 10/- each
- Turnover (standalone): As on March 31, 2026: Rs. 580.49 million
Additional Information
Filed in compliance with SEBI Master Circular No. SEBI/HO/49/l4/l4(7)2025-CFD-POD2/l/3762/2026 dated January 30, 2026