Innovassynth rights issue allotment subscribed 155%

Innovassynth Technologies (India) Limited has successfully completed the allotment of equity shares pursuant to its rights issue. The Rights Issue Committee approved the allotment of 1,74,11,380 fully paid-up equity shares to eligible shareholders and renouncees. The shares were issued at a price of ₹40 per share, which includes a face value of ₹10 and a premium of ₹30, aggregating to a total of ₹69,64,55,200.

Rights Issue Subscription Details

The rights issue opened on May 8, 2026, and closed on May 18, 2026. It was offered to eligible equity shareholders in the ratio of 3 rights equity shares for every 13 fully paid-up equity shares held as on the record date of April 29, 2026. The issue witnessed strong subscription, being subscribed to 155.29% of the issue size. The company received applications amounting to ₹108,15,55,040 against the issue size of ₹69,64,55,200.

Capital Structure Post-Allotment

Following the finalization of the basis of allotment in consultation with the Registrar to the Issue and BSE Limited, the issued, subscribed, and paid-up equity share capital of the company has increased. The details of the pre and post-issue paid-up share capital are outlined below:

Particulars No. of Equity Shares Face Value Total Paid-up share capital (Pre-Rights Issue) 7,54,49,316 ₹ 10 ₹ 75,44,93,160 Paid-up share capital (Post-Rights Issue) 9,28,60,696 ₹ 10 ₹ 92,86,06,960

The allotment was approved during a meeting of the Rights Issue Committee held on May 19, 2026. The issued shares rank pari passu with the existing equity shares of the company.

Innovassynth Technologies (India) Limited has announced a rights issue of up to 1,74,11,380 fully paid-up equity shares of face value ₹10 each at a price of ₹40 per share, including a premium of ₹30 per share. The issue aggregates up to ₹6,964.55 lakhs, assuming full subscription. The rights issue is being offered to eligible equity shareholders in the ratio of 3 rights equity shares for every 13 fully paid-up equity shares held as on the record date of April 29, 2026.

The company, formerly known as Innovassynth Investments Limited, was incorporated on February 15, 2008. Following a scheme of merger by absorption approved by the National Company Law Tribunal, Mumbai Bench-1 in November 2025, Innovassynth Technologies (India) Limited was merged into the company, and the company was renamed accordingly effective December 31, 2025.

Issue Details

Particulars Details Rights Equity Shares Offered Up to 1,74,11,380 fully paid-up equity shares of ₹10 each Rights Entitlement Ratio 3 rights equity shares for every 13 equity shares held Issue Price ₹40 per rights equity share (including premium of ₹30) Issue Size Up to ₹6,964.55 lakhs Record Date April 29, 2026 Issue Opening Date May 8, 2026 Issue Closing Date May 18, 2026

The issue price of ₹40 per rights equity share is four times the face value of the equity shares. The rights equity shares issued pursuant to this issue will rank pari passu in all respects with the existing equity shares of the company.

Issue Schedule

Event Date Last Date for Credit of Rights Entitlements April 30, 2026 Issue Opening Date May 8, 2026 Last Date for On-Market Renunciation May 12, 2026 Date of Closure of Off-Market Transfer May 15, 2026 Issue Closing Date May 18, 2026 Finalisation of Basis of Allotment May 19, 2026 Date of Allotment May 19, 2026 Date of Credit of Rights Equity Shares May 20, 2026 Date of Listing May 21, 2026

The board of directors or the rights issue committee reserves the right to extend the issue period, not exceeding 30 days from the issue opening date. No withdrawal of applications will be permitted after the issue closing date.

Objects of the Issue

The net proceeds from the issue, estimated at ₹6,882.11 lakhs after deducting issue-related expenses of ₹82.44 lakhs, are proposed to be utilized for the following purposes:

Sr. No. Particulars Amount (₹ in Lakhs) 1 Pre-payment of Rupee Term Loan from ICICI Bank Limited 4,400 2 To augment working capital requirements 850 3 General Corporate Purposes 1,632.11 Total 6,882.11

The company intends to utilize ₹4,400 lakhs for the full prepayment of the rupee term loan availed from ICICI Bank Limited. The working capital augmentation of ₹850 lakhs will support the company's manufacturing and contract research activities. The amount allocated for general corporate purposes will not exceed 25% of the gross proceeds.

Key Appointments

MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited) has been appointed as the registrar to the issue. ICICI Bank Limited is acting as the banker to the issue. ACER Credit Rating Private Limited has been appointed as the monitoring agency to oversee the utilization of the gross proceeds.

The existing equity shares of the company are listed on BSE Limited. The company has received in-principle approval from BSE for listing the rights equity shares to be allotted pursuant to this issue. The designated stock exchange for the issue is BSE Limited.

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