Tavexia Lifecare Limited has approved a proposal to raise up to ₹680 crore through the issuance of securities. This fundraising is intended to finance the company’s proposed acquisition of 60% of the equity share capital of Meyonex Pharmaceuticals Limited. The Board has given its in-principle approval and authorized executive directors to appoint consultants to evaluate the most appropriate issuance mode. A final decision on the fundraising structure will be made in a subsequent meeting.
Fundraising for Strategic Acquisition
Tavexia Lifecare Limited’s Board of Directors, in a meeting held on November 4, 2026, has given its in-principle approval for a significant fundraising initiative. The company plans to raise an aggregate amount not exceeding ₹68,00,00,000 (₹680 crore) through various permissible modes, including preferential issue, rights issue, or other similar methods. This strategic move is aimed at financing the proposed acquisition of 60% of the equity share capital of Meyonex Pharmaceuticals Limited, a transaction previously approved by the board on October 7, 2026.
Mode and Approval Process
The Board has authorized the Executive Directors to appoint necessary consultants, professionals, intermediaries, and experts to evaluate and recommend the most appropriate mode and type of securities issuance for raising these funds. The final decision regarding the structure, terms, and conditions of the fund-raising will be subject to further consideration and approval at a subsequent Board meeting, adhering to all applicable statutory and regulatory requirements. Additional disclosures related to this fundraising will be provided once the final decision is taken.
Other Board Decisions
In addition to the fundraising proposal, the Board also approved the Un-Audited Financial Results (standalone and consolidated) for the quarter and half-year ended September 30, 2026. They also took on record the Limited Review Report from M/s DEVAM & Associates LLP and the Statement of deviation(s) or variation(s) on the use of proceeds from the recent Right issue offer document.
Furthermore, the company announced a change in its Registrar and Transfer Agent (RTA) from Niche Technologies Pvt. Ltd to Skyline Financial Services Pvt. Ltd. Niche Technologies will continue its services until the completion of data transition and related procedures.
Source: BSE
