Tavexia Lifecare Limited’s Board of Directors has given in-principle approval for raising funds up to ₹68 crore. This capital will be utilized to finance the proposed acquisition of 60% of the equity share capital of Meyonex Pharmaceuticals Limited. The Board also authorized the appointment of consultants to determine the most appropriate mode and type of securities issuance for this fundraise. A final decision on the fund-raising structure will be made at a subsequent meeting.
Board Approves Significant Fundraise for Acquisition
Tavexia Lifecare Limited has announced that its Board of Directors, in a meeting held on November 4, 2026, has approved a proposal to raise funds amounting to an aggregate of up to ₹68,00,00,000 (Rupees Sixty-Eight Crores Only). This fundraise is intended to finance the company’s strategic acquisition of 60% of the equity share capital of Meyonex Pharmaceuticals Limited, a move that was previously approved by the Board on October 7, 2026.
Strategic Fund-Raising and Acquisition
The proposed fund-raising can be undertaken through various suitable modes, including preferential issue of securities, rights issue of equity shares, or any other permissible issuance method. The Board has granted in-principle approval and has authorized the Executive Directors to appoint consultants, professionals, intermediaries, and valuers. Their role will be to evaluate and recommend the most appropriate method and type of securities for raising the necessary funds.
A final decision regarding the structure, terms, and conditions of the fund-raising exercise will be considered and approved at a future Board meeting, subject to all applicable statutory and regulatory requirements. Additional disclosures pertaining to this fund-raising initiative will be provided once the final decision is made.
Other Board Decisions
In addition to the fund-raising approval, the Board also approved the Unaudited Financial Results (Standalone and consolidated) for the quarter and half-year ended September 30, 2026. The Limited Review Report from statutory auditors, M/s DEVAM & Associates LLP, on these results was also taken on record. Furthermore, the Board considered and recorded the Statement of deviation(s) or variation(s) in the use of proceeds from the Right Issue offer document.
A significant operational change approved was the change of Registrar & Transfer Agent (RTA) from Niche Technologies Pvt. Ltd to Skyline Financial Services Pvt. Ltd. Niche Technologies will continue to serve as the RTA until the completion of data transition and related procedures.
The Board Meeting commenced at 6:30 P.M. and concluded at 9:20 P.M. on November 4, 2026.
Source: BSE
