Ind-Swift Laboratories' Board of Directors approved a ₹137.2 crore ($16.5 million) fundraise on July 10, 2026. The company will issue up to 7,000,000 fully convertible warrants to Essix Biosciences Limited.
Essix Biosciences is an entity within the company's promoter group. Each warrant is priced at ₹196.
Investors can convert these warrants into equity shares within 18 months of the allotment date. The move aims to strengthen the company's capital base.
Shareholders will vote on the proposal at an Extra-Ordinary General Meeting scheduled for August 5, 2026.